SHFE Lead Prices Up 1.02% (2017-1-16)

SHANGHAI, Jan. 16 (SMM) – On Monday, SHFE 1703 lead started at RMB 19,070/mt and then advanced to RMB 19,200/mt briefly. The contract later rolled back and dipped to RMB 18,775/mt at the tail of trading. SHFE 1703 lead closed at RMB 18,900/mt, up RMB 190/mt or 1.02%. Trading volumes increased 15,788 to 56,336 lots and positions rose 3,264 to 32,734. SHFE 1703 lead couldn’t stabilize above RMB 19,000/mt on Monday due to falling LME lead and quiet trading in China’s spot market. But strong ferrous metals supported the contract to rise. SHFE 1701 lead opened at RMB 19,210/mt and finally closed at RMB 18,800/mt with settlement price at RMB 47,597/mt. Trading volumes was 660 lots and positions fell 50 to 7,870.