Zinc yesterday traded with the negative node and settled -0.05% down at 109.1 Orders to draw zinc from warehouses monitored by the London Metal Exchange surged for a second day this week, on bookings in New Orleans. The global zinc market was in a 341,000-metric-ton surplus between January and May this year, the World Bureau of Metal Statistics. Zinc stockpiles declined for a second week to 400,726 tons, down 1,100 tons, based on a survey of 15 warehouses in Shanghai, Guangdong and Zhejiang, while lead stored in the warehouses gained 1,730 tons to 58,003 tons, the data showed.. In yesterday's trading session zinc has touched the low of 109 after opening at 109.1, and finally settled at 109.1. For today's session market is looking to take support at 109, a break below could see a test of 108.8 and where as resistance is now likely to be seen at 109.3, a move above could see prices testing 109.4.

Trading Ideas:

Zinc trading range is 108.8-109.4.

World zinc market in 341,000-ton surplus January-May - WBMS

Zinc is getting resistance at 110.40 level a break above looks to test 112 level

Zinc weekly stocks at Shanghai exchange came down by 1100 tonnes