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Guar yesterday we have seen that market has moved 0.25% in the wake of rising demand of guargum miller

Lundin Mining Corp. said it has been notified of possible strike action at its Aguablanca nickel-copper mine in Spain and this, combined with recent heavy rains, has led it to reduce its guidance for the operation's 2010 production. Nickel has touched a low of Rs 948.3 a kg after opening at Rs.953.6, and last traded at Rs 959.1.For today market is looking for the support at 949.7, a break below could see a test of 940.2 and where as resistance is now likely to be seen at 967.2, a move above could see prices testing 975.2.

Trading Ideas:

Nickel trading range is 940.2-975.2.

Possible strike from July 31 at Aguablanca nickel

The zinc market was in surplus by 241 kilo tonne during January to May 2010 that compares with a surplus of 210 kilo tonne recorded in the whole of the previous year. Zinc yesterday we have seen that market has moved 1.1%. Market has opened at 90.3 & made a low of 89.95 versus the day high of 92.05. The total volume for the day was at 24002 lots and the open interest was at 3329.Now support for the zinc is seen at 90.1 and below could see a test of 89. Resistance is now likely to be seen at 92.2, a move above could see prices testing 93.2.

Trading Ideas:

Zinc trading range is 89-93.2.

Zinc market surplus in first 5 months of 2010 – WBMS

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