SHANGHAI, Dec. 4 (SMM) – SHFE 1602 lead started at RMB 12,605/mt during Thursday night session and followed LME lead to range RMB 12,550-12,695/mt, to end at RMB 12,630/mt, up RMB 15/mt.
SHFE lead advanced to RMB 12,800/mt on Friday due to position opening by longs and closed at RMB 12,800/mt, up by RMB 185/mt or 1.47%. Trading volumes were up 2,948 to 8,020 lots with positions up 756 to 13,978.
SHFE 1602 lead will challenge the 60-day moving average this evening with support at the 5-day moving average.