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Zinc yesterday we have seen that market has moved -0.1%. Market has opened at 100.25 & made a low of 100.15 versus the day high of 100.4. The total volume for the day was at 329 lots and the open interest was at 4710.Now support for the zinc is seen at 100.1 and below could see a test of 100. Resistance is now likely to be seen at 100.4, a move above could see prices testing 100.5.
The global nickel market was in a small surplus of 1,600 metric tons in January to April, the World Bureau of Metal Statistics. This compared with a 2,000 ton surplus over the whole of 2010, although this figure included substantial imports recorded by China. Nickel has touched a low of Rs 993 a kg after opening at Rs.996.6, and last traded at Rs 994.8.
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