SHANGHAI, Aug. 18 (SMM) – SHFE 1510 lead opened Monday evening with a negative gap at RMB 13,310/mt and fell back after touching RMB 13,370/mt, to end at RMB 13,320/mt, up RMB 40/mt. Longs reduced for SHFE 1509 lead and shorts grew for SHFE 1510 lead, boding ill for lead prices.
SHFE lead moved at highs between RMB 13,300-13,350/mt due to exit of shorts after the open of Tuesday trading session. But in the afternoon business, the contract fell back in response to tumbling China’s A-shares and LME lead prices and ended at RMB 13,205/mt, losing RMB 75/mt. Trading volumes were 6,028 lots with positions down 514 to 18,150.