SHFE 1506 Lead Edges up RMB 5/mt (April 20, 2015)

Published: Apr 20, 2015 17:28

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The most active SHFE 1506 lead jumped to RMB 13,600/mt Monday from RMB 13,490/mt last Friday’s evening session.

SHANGHAI, Apr. 20 (SMM) – The most active SHFE 1506 lead jumped to RMB 13,600/mt Monday from RMB 13,490/mt last Friday’s evening session as the People’s Bank of China (PBOC) announced to cut the reserve requirement ratio (RRR) on Sunday.

But later SHFE lead prices fell back slowly, ending at RMB 13,565/mt, up RMB 5/mt, after the good news was absorbed. Positions dropped 1,156 to 16,558 as shorts and longs booked profits.

Currently, SHFE lead has met resistance. Good news will help SHFE lead break the resistance but otherwise, lead prices may fall back.

lead lead prices

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