SHANGHAI, Jun. 29 (SMM) – The most active contract touched a low of RMB 13,020/mt after opening last Friday evening session at RMB 13,080/mt, to end down RMB 40/mt at RMB 13,060/mt.
The contract dived to RMB 12,755/mt on Monday and closed the day down RMB 280/mt or 2.14% at RMB 12,820/mt. Trading volumes fell 1,012 to 3,746 lots with positions down 110 to 13,106.
SHFE 1508 lead should test RMB 12,800/mt this evening with technical indicators pointing downwards.