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SHFE Lead Ends with Losses (2016-10-27)
Oct 27, 2016 18:25Source:SMM
On Thursday, SHFE 1612 lead started at RMB 16,440/mt and finally ended at RMB 16,245/mt, down RMB 60/mt or 0.37%.
SHANGHAI, Oct. 27 (SMM) – On Wednesday’s night trading, SHFE 1612 lead opened at RMB 16,345/mt and stabilized at around RMB 16,200/mt. The contract finally ended at RMB 16,230/mt, up RMB 60/mt or 0.37%. Trading volumes were up 1,842 to 32,128 lots and positions were down 4,756 to 15,086.
On Thursday, SHFE 1612 lead started at RMB 16,440/mt and then fell to RMB 16,240/mt, down as low as RMB 16,175/mt, hurt by positions closing by longs. During the afternoon trading, SHFE 1612 lead regained some lost ground to RMB 16,330/mt but weakened again at the tail of trading. The contract finally ended at RMB 16,245/mt, down RMB 60/mt or 0.37%. Positions rose 1,062 to 313,000 and trading volumes fell 3,730 to 278,000 lots.
SHFE 1612 lead is expected to stay firm after a slight decline on Thursday’s night trading with positive technical indicators.
SHFE lead
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