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

Resistance for zinc is seen at 92.20 and support is at 90.10.

Zinc daily stock at Shanghai exchange came down by -75 tonnes.