Chelyabinsk Zinc Plant output rose by 56% in the H1 of 2010 versus a year ago, indicating Russia\'s top zinc producer is restoring output after the economic crisis. Zinc yesterday we have seen that market has moved -0.83%.
Market has opened at 96.2 & made a low of 95.05 versus the day high of 97.1. The total volume for the day was at 41075 lots and the open interest was at 7604.
Now support for the zinc is seen at 94.7 and below could see a test of 93.9.
Resistance is now likely to be seen at 96.8, a move above could see prices testing 98.
Trading Ideas:
Zinc trading range is 93.9-98.
Chelyabinsk Zinc Plant output rose by 56% in the H1 of 2010
Resistance for zinc is seen at 96.80 and support is at 94.70.
Zinc daily stock at Shanghai exchange came down by -374 tonnes.
