SHANGHAI, Jul. 28 (SMM) – SHFE 1510 lead opened at RMB 12,625/mt during Monday evening session and ended down RMB 70/mt at RMB 12,605/mt with the high-end price at RMB 12,590/mt and high end price at RMB 12,665/mt due to shorts exiting market.
On Tuesday, black metal and non-ferrous metal prices all rallied. SHFE lead soared to RMB 12,690/mt before hovering between RMB 12,660-12,690/mt. The prices faced pressures at the 5-day moving average and closed at RMB 12,680/mt, up by RMB 5/mt. Trading volumes were 2,524 lots and positions grew 544 to 16,726.