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Home / Metal News / SHFE Lead Grows RMB 40/mt on Short-Covering (Sept. 11, 2015)

SHFE Lead Grows RMB 40/mt on Short-Covering (Sept. 11, 2015)

iconSep 11, 2015 17:37
Source:SMM
SHFE lead once trended higher to RMB 13,465/mt after opening Thursday evening session at RMB 13,410/mt.

SHANGHAI, Sept. 11(SMM) – SHFE lead once trended higher to RMB 13,465/mt after opening Thursday evening session at RMB 13,410/mt. But later SHFE lead fell back slightly with longs exiting market before finishing at RMB 13,395/mt, rising RMB 40/mt.

November-delivery lead on the SHFE moved stably around RMB 13,400/mt during Friday trading session and then slid to RMB 13,280/mt. The contract bounced back gradually with shorts exiting market before ending at RMB 13,395/mt, up by RMB 40/mt.

SHFE lead is expected to test resistance at RMB 13,400/mt next week.

 


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