SHFE Lead Sees a Gain of 1.34% (Oct. 12, 2015)

SHANGHAI, Oct. 12 (SMM) – Glencore’s cut news and softer dollar supported SHFE 1512 lead to gap higher at RMB 13,650/mt last Friday night. The contract climbed to RMB 13,825/mt and finally closed at RMB 13,645/mt, up RMB 170/mt. Trading volumes dropped 2,402 to 3,074 lots whilst positions were up 204 to 13,718.

SHFE 1512 lead touched a low of RMB 13,515/mt after starting Monday trading session but later returned to RMB 13,650/mt thanks to growing longs and exit of shorts. The most actively-traded contract closed the day RMB 180/mt or 1.34% higher at RMB 13,655/mt. Trading volumes saw a rise of 1,122 to 6,598 lots and positions increased 880 to 14,394. 

SHFE 1512 lead remains above moving averages after three consecutive months’ growth and is predicted to grow further this evening.