Mitsui Mining & Smelting Co. said Tuesday it lowered its zinc selling price by Y15,000 to Y220,000 a metric ton. This will bring the average zinc selling price for May to Y227,800. Zinc yesterday we have seen that market has moved 1.47%. Market has opened at 85.3 & made a low of 85.1 versus the day high of 88.45.

The total volume for the day was at 34476 lots and the open interest was at 6899. Now support for the zinc is seen at 85 and below could see a test of 83.4. Resistance is now likely to be seen at 88.3, a move above could see prices testing 90.1.

Trading Ideas:

Zinc trading range is 83.4-90.1.

Mitsui Mining & Smelting Co. has lowered its zinc selling price

Resistance for zinc is seen at 85.30 and support is at 87.80.

Zinc daily stock at Shanghai exchange came down by -621 tonnes.

ZINC LOOK TO TEST 85 LEVEL SUPPORT AVOID SHORT WAIT FOR FRESH ENTRY.