SHANGHAI, May 7 (SMM) – SHFE 1507 lead, the most-traded contract, started Wednesday evening session at RMB 13,840/mt and then lurched down to close at RMB 13,640/mt, falling RMB 275/mt.
The contract moved lower to RMB 13,445/mt Thursday on growing short positions and ended the day at RMB 13,485/mt, slipping RMB 425/mt. Trading volumes totaled 13,254 lots. Positions surged 1,148.
SHFE lead is expected to test the 20-day moving average and may find support at RMB 13,450/mt.