SHANGHAI, Sept. 21 (SMM) – Last Friday evening, SHFE 1511 lead once moved lower to RMB 13,185/mt after opening at RMB 13,245/mt, to close down RMB 95/mt at RMB 13,230/mt.
It was reportedly that Glencore faced financial problems, fueling worries about sell-offs of nonferrous metals by Glencore. In response, SHFE lead lost more than RMB 300/mt. Later, panic gradually faded away. SHFE lead returned to RMB 13,230/mt before ending at RMB 13,145/mt, down RMB 180/mt. Trading volumes totaled 8,662 lots with trading volumes down 58 to 13,254.