Commodity Outlook for Zinc by KediaCommodity

ZincMitsui Mining & Smelting Co. said it lowered its zinc selling price by Y1,000 to Y240,000 a metric ton. This will bring the average zinc selling price for November to Y242,500. Zinc yesterday we have seen that market has moved -1.84%. Market has opened at 96.7 & made a low of 93.4 versus the day high of 97.95. The total volume for the day was at 43583 lots and the open interest was at 9552.Now support for the zinc is seen at 93.6 and below could see a test of 91.2. Resistance is now likely to be seen at 98.1, a move above could see prices testing 100.3.

Trading Ideas:

Zinc trading range is 91.2-100.3.

Mitsui Mining & Smelting lowers zinc price to y240,000/ton

Zinc looks to take support at 94.80 and resistance at 97.10.

Spread between zinc NOV & DEC contracts yesterday traded in the range of 1.1 - 2.