SHANGHAI, Sept. 17 (SMM) – SHFE 1511 lead started at RMB 13,330/mt for night trading Wednesday and closed RMB 55/mt higher at RMB 13,365/mt.
SHFE 1511 lead fell to RMB 13,265/mt after the open of Thursday trading session and then found support at the 5 and 10-day moving averages. Near the session’s end, the contract rebounded on short covering, to end at RMB 13,335/mt, up RMB 25/mt or 0.19%. Trading volumes declined 670 to 3,274 lots while positions rose 256 to 13,122.
SHFE lead is expected to move at highs this evening with support emerging at moving averages. Market sentiment should keep wary tonight ahead of the release of the US interest rate meeting minutes.