Mitsui Mining plans cut in H1 zinc output: Japan's Mitsui Mining and Smelting Company plans to produce 0.9% less zinc in April to September than a year earlier, reflecting a slump in demand for the metal. Zinc yesterday we have seen that market has moved -0.09%. Market has opened at 107.5 & made a low of 106.7 versus the day high of 108.25. The total volume for the day was at 9261 lots and the open interest was at 4164.Now support for the zinc is seen at 106.5 and below could see a test of 105.8. Resistance is now likely to be seen at 108, a move above could see prices testing 108.9.

Trading Ideas:

Zinc trading range is 105.8-108.9.

Mitsui Mining plans cut in H1 zinc output

Support for the zinc is at 105.80 and resistance is at 108.20.

Zinc still above 105 level looks firm till 110 level.

BUY ZINC APR @ 106 SL 105 TGT 106.60-107.20-108.MCX