SHANGHAI, Jul. 13 (SMM) – SHFE 1609 lead fluctuated between RMB 13,240-13,340/mt after starting Tuesday night session higher at RMB 13,290/mt. The contract closed the session at RMB 13,285/mt.
SHFE 1609 lead opened at RMB 13,280/mt on Wednesday and once rose to RMB 13,445/mt in the afternoon business, with closing prices up RMB 110/mt or 0.84% at RMB 13,250/mt. Trading volumes grew 8,358 to 17,710 lots and positions were up 760 to 17,684.
China’s trade data for June was disappointing, a reflection of slowdown pressure faced by Chinese economy. The movement of SHFE lead will wait for guidance from market in the near term.