China's State Reserve Bureau will sell around 50,000 metric tons of zinc ingots in a tender Tuesday, the country's top economic planner said in a statement. LME data showed that zinc inventories fell by 75 tonnes, ending five days of builds that brought stockpiles to near six-year highs above 630,000 tonnes. Zinc yesterday we have seen that market has moved -1.33%. Market has opened at 109.1 & made a low of 106.6 versus the day high of 109.75. The total volume for the day was at 26380 lots and the open interest was at 6906.Now support for the zinc is seen at 106.1 and below could see a test of 104.8. Resistance is now likely to be seen at 109.2, a move above could see prices testing 111.1.

Trading Ideas:

Zinc trading range is 104.8-111.1.

China's State Reserve Bureau will sell around 50,000 metric tons of zinc ingots

Zinc looks to take support at 106.10 and resistance at 108.40.

Zinc daily stocks at Shanghai exchange came up by 1876 tonnes.