SHFE 1506 Lead up RMB 190/mt on Rising Long Positions (April 16, 2015)

SHANGHAI, Apr. 16 (SMM) – The most active SHFE 1506 lead opened at RMB 13,150/mt, then hitting a high of RMB 13,325/mt for growing long positions. The June delivery lead ended at RMB 13,240/mt, up RMB 140/mt.

SHFE lead outperformed other base metals and the most active SHFE 1506 lead reached as high as RMB 13,365/mt early, but then decreased to RMB 13,175/mt as long investors booked profits. The June delivery lead prices were closed at RMB 13,290/mt, up RMB 190/mt, gaining 1.45%.

Trading volumes increased 4,578 lots to 15,764 lots and positions dropped 552 to 17,238. SHFE lead is expected to remain strong with long positions increasing more than short positions.