SHFE Lead Closes down RMB 265/mt (Oct. 21, 2015)

Published: Oct 21, 2015 17:24

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For night trading Tuesday, SHFE 1512 lead opened at RMB 13,460/mt and moved in a tight range of RMB 13,430-13,485/mt.

SHANGHAI, Oct. 21 (SMM) – For night trading Tuesday, SHFE 1512 lead opened at RMB 13,460/mt and moved in a tight range of RMB 13,430-13,485/mt before ending at RMB 13,465/mt, up RMB 15/mt. Trading volumes declined 3,088 to 916 lots but positions increased 56 to 15,130.

SHFE lead ranged between RMB 13,430-13,440/mt during Wednesday trading hours and touched a low of RMB 13,180/mt due to exit of shorts due to large drop in Chinese stock market. The contract closed down RMB 265/mt or 1.97% at RMB 13,185/mt. Trading volumes grew 1,588 to 5,592 lots and positions were up 488 to 15,562.

SHFE 1512 lead should move on the weak side this evening amid bearishness in market. Technical indicators point downside and position opening by shorts higher than longs. Besides, Chinese shares print an over 3% slip.

SHFE lead price

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