The global refined zinc market was in surplus by 176,000 metric tons in the first six months of the year, the International Lead and Zinc Study Group said. The figure was smaller than the 264,000-ton surplus registered in the same period a year ago, ILZSG said. Zinc yesterday we have seen that market has moved -0.97%. Market has opened at 97.5 & made a low of 96.15 versus the day high of 98.7. The total volume for the day was at 15844 lots and the open interest was at 3880.Now support for the zinc is seen at 95.5 and below could see a test of 94.6. Resistance is now likely to be seen at 98.1, a move above could see prices testing 99.7.

Trading Ideas:

Zinc trading range is 94.6-99.7.

Global refined zinc market was in surplus by 176,000 metric tons – ILZSG

Resistance for zinc is seen at 98.10 and support is at 95.50.

Zinc daily at Shanghai exchange came down by -401 tonnes.