SHFE 1506 Lead up RMB 85/mt (May 4, 2015)

Published: May 4, 2015 17:37

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Shanghai Futures Exchange was closed last Friday on the May Day holiday. The most active SHFE 1506 lead opened at RMB 13,830/mt Monday.

SHANGHAI, May 4 (SMM) –Shanghai Futures Exchange was closed last Friday on the May Day holiday. The most active SHFE 1506 lead opened at RMB 13,830/mt Monday.

HSBC’s China manufacturing PMI for April released this morning was only 48.9, hitting a new low. The most active contract moved higher as poor April PMI added support to expectation for PBOC’s easing policy, to RMB 13,895/mt. The June-delivery lead ended the day at RMB 13,880/mt, up RMB 85/mt, gaining 0.62%. Trading volumes totaled 2,916 lots and positions dropped 50 to 13,845.

SHFE lead is expected to increase further on strong bull.

SHFE lead

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