China will have an annual supply shortage in zinc concentrate of 1.5 million tons in the next five years due to rising demand at local smelters and heavy reliance on overseas resources. Zinc yesterday we have seen that market has moved 1.52%. Market has opened at 96.45 & made a low of 95.1 versus the day high of 97.25. The total volume for the day was at 30164 lots and the open interest was at 7110.Now support for the zinc is seen at 95.5 and below could see a test of 94.2. Resistance is now likely to be seen at 97.7, a move above could see prices testing 98.5.

Trading Ideas:

Zinc trading range is 94.2-98.5.

China to see 1.5M tons/yr deficit in zinc concentrate supply

Zinc looks to take support at 95.50 and resistance at 97.70.

Zinc daily stocks at Shanghai exchange came up by 1053 tonnes.