Mitsui Mining & Smelting Co. said it raised its zinc selling price by Y10,000 to Y210,000 a metric ton. This will bring the average zinc selling price for July to Y204,800. Zinc yesterday we have seen that market has moved 0.67%. Market has opened at 89.5 & made a low of 88.85 versus the day high of 90.45. The total volume for the day was at 23890 lots and the open interest was at 5532.Now support for the zinc is seen at 89.3 and below could see a test of 88.3. Resistance is now likely to be seen at 90.9, a move above could see prices testing 91.5.
Trading Ideas:
Zinc trading range is 88.3-91.5.
Mitsui Mining & Smelting Co. has raised its zinc selling price by Y10,000
Resistance for zinc is seen at 91.50 and support is at 89.30.
Zinc daily stock at Shanghai exchange came down by -201 tonnes.
