SHANGHAI, May 15 (SMM) – SHFE 1507 lead dropped in response to falling LME lead. The contract opened at RMB 13,480/mt Thursday night and then dived to RMB 13,300/mt, to end down RMB 165/mt.
SHFE 1507 lead hovered around RMB 13,350/mt on Friday and finished at RMB 13,360/mt, down RMB 125/mt, off 0.93%. Trading volumes were up 1,222 to 7,082 lots whereas positions dropped 210 to 14,858.
The contract is expected to inch lower tonight as longs left market.