SHFE Lead Trades Up (Mar. 28, 2016)

SHANGHAI, Mar. 28 (SMM) – SHFE 1605 lead started at RMB 13,550/mt for night trading last Friday and once reached RMB 13,590/mt, to end at RMB 13,535/mt, up RMB 10/mt or 0.07%.

SHFE lead edged up slight on Monday thanks to positive reading of China’s economic figures released last weekend but met resistance at RMB 13,600/mt, to close the day at RMB 13,575/mt, gaining RMB 50/mt or 0.37%. Trading volumes reduced 358 to 4,188 lots and positions were up 364 to 19,128.

SHFE 1605 lead should see weak trading tonight with resistance at the 10 and 20-day moving averages and support at RMB 13,500/mt.