Home / Metal News / SHFE Lead Trades up 0.72% on Exit of Shorts (Oct. 29, 2015)

SHFE Lead Trades up 0.72% on Exit of Shorts (Oct. 29, 2015)

iconOct 29, 2015 18:45
Source:SMM
SHFE 1512 lead opened lower at RMB 13,230/mt for night trading Wednesday and drifted higher to RMB 13,395/mt.

SHANGHAI, Oct. 29 (SMM) – SHFE 1512 lead opened lower at RMB 13,230/mt for night trading Wednesday and drifted higher to RMB 13,395/mt. Later, the contract met resistance at the 20-day moving average and closed at RMB 13,330/mt, up RMB 60/mt or 0.45%. Trading volumes fell 322 to 3,310 lots while positions increased 272 to 14,206.

The most active contract fell to RMB 13,300/mt after opening Thursday trading session and once moved higher to RMB 13,410/mt due to exit of shorts, to end at RMB 13,365/mt, up RMB 95/mt or 0.72%. Trading volumes grew 8,370 lots and positions increased 302 to 14,236.

SHFE 1512 lead should consolidate the 20-day moving average with position closure by shorts higher than longs.

SHFE lead price
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news