China’s zinc output in February dropped 1.2 percent from the previous month to 397,000 tonnes, up 9.7 percent from February 2010. Monthly zinc output stayed in low levels after hitting record 505,000 tonnes in September last year. Zinc yesterday we have seen that market has moved 0.05%. Market has opened at 103 & made a low of 102.9 versus the day high of 103.3. The total volume for the day was at 655 lots and the open interest was at 7928.Now support for the zinc is seen at 102.8 and below could see a test of 102.7. Resistance is now likely to be seen at 103.2, a move above could see prices testing 103.5.

Trading Ideas:

Zinc trading range is 102.7-103.5.

Mitsui mining says operation at Hachinohe zinc smelter halted due to quake

China’s zinc output in February dropped 1.2 percent from the previous month to 397,000 tonnes

Zinc weekly stocks at Shanghai exchange came up by 5627 tonnes