MUMBAI (Commodity Online): Zinc futures are trading with bearish note in the domestic exchange owing to the weak demand and the profit taking at lower levels.

MCX zinc contract is at Rs 105.50 per kg, after closing the Thursday's session at Rs 105.80. Supports for the contract are at Rs 104. Global refined zinc use was 10.832 million tonnes, down from 11.436 million a year earlier, preliminary data from ILZSG showed.

Now support for the zinc is seen at 104.7 and below could see a test of 103.7. Resistance is now likely to be seen at 106.5, a move above could see prices testing 107.2.

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World refined Zinc output was 11.277 million tonnes, down from 11.655 million a year earlier.

Meanwhile, U.S. zinc exports rose 111.0% in January from the previous month, and was up 74.7% from the previous year, the Commerce Department reported. Zinc yesterday we have seen that market has moved -0.61%.

Market has opened at 106.1 & made a low of 104.35 versus the day high of 106.1. The total volume for the day was at 36722 lots and the open interest was at 4770.

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