SHFE Lead Strengthens (2017-5-22)

SHANGHAI, May 22 (SMM) – On Monday, SHFE 1706 lead opened at RMB 15,500/mt and then surged sharply to RMB 15,810/mt with entering of longs. SHFE 1706 lead later stayed firm and ended at RMB 15,730/mt, up RMB 360/mt or 2.34％. Trading volumes reduced 6,550 to 54,122 lots and positions dropped 916 to 36,876.

SHFE 1706 lead will fluctuate at current level for a short term with support at RMB 15,000/mt but lack of upward strength.