SHANGHAI, Sept. 14(SMM) – Last Friday evening, SHFE 1511 lead started at RMB 13,320/mt and lurched down to RMB 13,240/mt in response to LME lead. The contract bounced back slightly on short-covering before closing at RMB 13,305/mt, down RMB 90/mt.
SHFE lead once rebounded to RMB 13,350/mt after the open of Monday trading session but then drifted down to RMB 13,290/mt as Chinese shares dropped after the start of Monday session. The price finally finished RMB 155/mt lower at RMB 13,240/mt. Trading volumes totaled 3,756 lots with positions down 376 to 14,714.