SHANGHAI, Aug. 19 (SMM) – For night trading Tuesday, SHFE 1510 lead started at RMB 13,160/mt and once touched a low of RMB 13,025/mt, to close down RMB 210/mt at RMB 13,105/mt. Trading volumes declined 3,692 to 2,336 lots and positions slipped 334 to 17,816.
SHFE lead prices were bolstered by Chinese stock rally, weaker dollar and short-covering on Wednesday. Thus, SHFE lead lurched up after the open of the session and finally closed at RMB 13,295/mt with a cut of RMB 20/mt.Trading volumes declined 254 to 5,774 lots and positions fell 566 to 17,584.
SHFE 1510 lead broke above the 10-day moving average and currently meets resistance at RMB 13,300/mt.