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Home / Metal News / SHFE Lead Prices down 2.85% (2016-12-2)

SHFE Lead Prices down 2.85% (2016-12-2)

Dec 2, 2016 21:09

Source:SMM

SHFE 1701 lead opened at RMB 20,750/mt and finally closed at RMB 20,300/mt, down RMB 595/mt or 2.85%.

SHANGHAI, Dec. 2 (SMM) – On Friday, SHFE 1701 lead opened at RMB 20,750/mt and then declined with longs taking profits. During the afternoon trading, SHFE 1701 lead stabilized to RMB 20,140/mt and then rallied slightly with exit of shorts. The contract finally closed at RMB 20,300/mt, down RMB 595/mt or 2.85%. Trading volumes fell 74,468 to 131,956 lots and positions reduced 1,492 to 37,020. China’s tight capital liquidity hurt futures market. SHFE 1701 lead moved below the 5-day moving average with resistance on Friday.

SHFE 1701 lead will swing between the 5 and 10-day moving averages in a short term.

SHFE lead

LME lead

lead prices

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