Commodity Outlook for Zinc by KediaCommodity
Mitsui Mining & Smelting Co. said it lowered its zinc selling price by Y15,000 to Y205,000 a metric ton. This will bring the average zinc selling price for June to Y217,000. Zinc yesterday we have seen that market has moved -1.4%. Market has opened at 77.9 & made a low of 77.05 versus the day high of 78. The total volume for the day was at 1287 lots and the open interest was at 8955.Now support for the zinc is seen at 76.8 and below could see a test of 76.5. Resistance is now likely to be seen at 77.8, a move above could see prices testing 78.4.
Zinc trading range is 76.5-78.4.
Mitsui Mining & Smelting Co. has lowered its zinc selling price
Resistance for zinc is seen at 78.40 and support is at 76.50.
Zinc weekly stock at Shanghai exchange came up by 220 tonnes.
SELL ZINC JUNE @ 77 SL 78 TGT 75.80-74.60.MCX