Losses of SHFE Lead Narrow to RMB 20/mt (Aug. 19, 2015)-Shanghai Metals Market

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Losses of SHFE Lead Narrow to RMB 20/mt (Aug. 19, 2015)

Price Review & Forecast 04:37:00PM Aug 19, 2015 Source:SMM

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. 


Losses of SHFE Lead Narrow to RMB 20/mt (Aug. 19, 2015)

Price Review & Forecast 04:37:00PM Aug 19, 2015 Source:SMM

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.