SHANGHAI, Oct. 23 (SMM) – SHFE 1512 lead started at RMB 13,290/mt on Thursday night and drifted higher to RMB 13,385/mt thanks to improving optimistic sentiment. Later, the contract met resistance at the 5 and 20-day moving average and fell back, to close at RMB 13,230/mt, up RMB 110/mt. Trading volumes dropped 9,520 to 2,352 lots and positions fell 78 to 14,252.
SHFE 1512 lead once drifted lower to RMB 13,125/mt on Friday but rebounded before ending at RMB 13,270/mt, up RMB 100/mt or 0.76%. Trading volumes decreased 4,814 to 7,058 lots and positions dropped 138 to 14,192.