World Zinc markets were in surplus for the period of Jan-Sep 2010 as per the report released by World Bureau of Metals Statistics (WBMS) dated 17 Nov 2010. The organization showed that the Zinc markets were in surplus of 292000 tonnes, up by a whopping 612% during Jan-Sep 2010. The Zinc markets were in surplus of 41000 tonnes in Jan-Sep 2009. Zinc yesterday we have seen that market has moved 3.6%. Market has opened at 96.15 & made a low of 96.15 versus the day high of 99.75. The total volume for the day was at 36083 lots and the open interest was at 8270.Now support for the zinc is seen at 97.1 and below could see a test of 94.8. Resistance is now likely to be seen at 100.7, a move above could see prices testing 102.

Trading Ideas:

Zinc trading range is 94.8-102.

World Zinc markets were in surplus for the period of Jan-Sep 2010 – WBMS

Zinc looks to take support at 97.10 and resistance at 100.70.

Zinc daily stocks at Shanghai exchange came down by 147 tonnes.