Zinc yesterday traded with the negative node and settled -1.2% down at 108.3. as Euro zone leaders are in the line to craft a new Greek bailout on Thursday at a EU summit, meanwhile, the market was also cautious ahead of new China’s PMI for June. In this context, LME zinc prices overnight inched down during Asian trading hours, fluctuating between USD 2,450-2,480/mt and finally closing at USD 2,457/mt, down USD 28/mt. Chinese demand dried up, with fabricators preferring to work down internal inventories instead of paying up in the international markets. With tighter credit conditions came further reduced buying in the first half of this year. But market see the trend possibly coming to an end later this year. In yesterday's trading session zinc has touched the low of 107.85 after opening at 109.1, and finally settled at 108.3. For today's session market is looking to take support at 107.7, a break below could see a test of 107.2 and where as resistance is now likely to be seen at 109, a move above could see prices testing 109.7.        Zinc trading range is 107.2-109.7.

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SELL ZINC JULY BELOW 108.25 SL 109.20 TGT 107.60-107-106.40.MCX

YESTERDAY LME STOCK FOR ZINC CAME DOWN  BY -3825