Mitsui Mining & Smelting Co. said it raised its zinc selling price by Y5,000 to Y215,000 a metric ton. Zinc yesterday we have seen that market has moved 3.71%. Market has opened at 93.1 & made a low of 93.1 versus the day high of 97.15. The total volume for the day was at 31684 lots and the open interest was at 6365.Now support for the zinc is seen at 94 and below could see a test of 91.5. Resistance is now likely to be seen at 98, a move above could see prices testing 99.6.
Trading Ideas:
Zinc trading range is 91.5-99.6.
Mitsui Mining & Smelting Co. has raised its zinc selling price
Resistance for zinc is seen at 94 and support is at 98.
Zinc down stock at Shanghai exchange came down by -1376 tonnes.
