Zinc on MCX settled down -2.06% at 168.40 dropped tracking weakness from LME Zinc which hit a three-month low on Monday as supply concerns eased and demand remained weak in top metal consumers such as China. LME Zinc prices touched a peak of $2,980.50 a tonne in mid-February on worries that major mine closures last year would lead to severe shortages. London Metal Exchange three-month zinc slid 2.7 percent to close at $2,618 a tonne, the weakest since Jan. 6. Also pressuring the market was weakness in Chinese steel prices and news that two flood-hit mines in Peru were ready to restart.

Trading Ideas:

Zinc trading range for the day is 164.8-174.6.

Zinc prices dropped dragged down by weakness in steel and also after news that two flood-hit mines in Peru were ready to restart.

Zinc prices touched a peak of $2,980.50 a tonne in mid-February on worries that major mine closures last year would lead to severe shortages.

Globally speaking, zinc supply has already been rising again since September.

Get Commodity Market Trading Tips for click here http://www.ripplesadvisory.com/services.php.