SHFE Lead Ends with Losses (2017-2-17)

SHANGHAI, Feb. 17 (SMM) – On Friday, SHFE 1703 lead started at RMB 18,855/mt and then stabilized at around RMB 18,850/mt. During the afternoon trading, SHFE 1703 lead declined to RMB 18,655/mt and ended at RMB 18,695/mt, down RMB 540/mt. Trading volumes dropped 11,260 to 53,782 lots and positions fell 2,748 to 29,868. This past week, SHFE 1703 lead dropped below four moving averages continually. However, with restarting of environmental protection inspections, more lead smelters cut output or closed down, allowing SHFE 1703 lead to rise.

SHFE 1703 lead will fluctuate at RMB 18,600/mt in the coming week, the previous range level.