SHANGHAI, Sept. 9 (SMM) – SHFE 1511 lead moved on the strong side on Wednesday in response to optimistic sentiment in market. The contract moved in a tight range of RMB 13,310-13,370/mt and finally closed up RMB 125/mt at RMB 13,320/mt. Trading volumes surged to 7,502 lots but positions dropped 8 to 15,040.
Market sentiment was boosted by growing expectation for demand in China and this allowed commodity prices to jump on Wednesday. SHFE copper gained more than 4%.