India, Sept. 11 -- Technically Zinc market is under long liquidation as market has witnessed drop in open interest by 0. 67% to settled at 2225 while prices down 1.05 rupees.
Now MCX Zinc is getting support at 186 and below same could see a test of 184.4 levels and resistance is now likely to be seen at 188.8 a move above could see prices testing 190.
Zinc yesterday settled down by 0.56% at 187.4 as pressure after China's August refined zinc output rose 2.8% to 450000 tonnes from last year hitting a record monthly high in nearly five years.
In terms of fundamentals galvanising orders increased amid optimism over infrastructure construction and orders of die-cast zinc alloy and zinc oxide also improved.
China s factory gate prices fell f...