SHANGHAI, Jun. 26 (SMM) – SHFE 1508 lead started at RMB 13,135/mt Thursday evening session and ended down RMB 60/mt at RMB 13,105/mt with the low-end price at RMB 13,060/mt.
The contract fluctuated between RMB 13,100-13,130/mt after opening Friday trading session and dipped to RMB 13,050/mt on selling pressures. The price closed the day downRMB 65/mt at RMB 13,100/mt after rebounding thanks to support at the 5 and 20-day moving averages. Trading volumes totaled 4,758 lots with positions up 270 to 13,216.
SHFE 1508 lead should fall to test RMB 13,000-13,050/mt this evening.