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SHFE Lead Finishes Lower (2017-2-24)
Feb 24, 2017 18:26Source:SMM
SHFE 1704 lead started at RMB 18,505/mt and ended at RMB 18,800/mt, down RMB 130/mt or 0.69%.
SHANGHAI, Feb. 24 (SMM) – On Friday, SHFE 1704 lead started at RMB 18,505/mt and then advanced to RMB 18,843/mt. The contract later dropped slightly and ended at RMB 18,800/mt, down RMB 130/mt or 0.69%. Trading volumes increased 9,656 to 66,652 lots and positions dropped 590 to 37,580. SHFE 1704 lead dropped on Friday and found support at the 40-day moving average.
The contract will fluctuate at current price for the foreseeable future. SHFE 1704 lead will find support at RMB 18,500. If SHFE 1704 lead drops below RMB 18,500, it will find support at RMB 17,500/mt.
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