Zinc yesterday traded with the negative node and settled -0.15% down at 102.6. Some support had been seen from the LME stock also which came down by -700mt, the total stock at LME is now at 630725mt. In yesterday's trading session zinc has touched the low of 102.5 after opening at 102.9, and finally settled at 102.6. For today's session market is looking to take support at 102.4, a break below could see a test of 102.2 and where as resistance is now likely to be seen at 102.9, a move above could see prices testing 103.2. Spread between zinc DEC & JAN contracts yesterday ended at 1.15. Spread yesterday traded in the range of 0.8 - 1.15.

Trading Ideas:

Zinc trading range is 102.2-103.2.

Zinc yesterday traded with the negative node and settled -0.15% down

Zinc looks to take support at 101.40 and resistance at 103.60.

Zinc weekly stocks at Shanghai exchange came up by 5430 tonnes.