SHFE Lead Closes down 0.57% (Nov. 3,2015)

SHANGHAI, Nov. 3 (SMM) – SHFE 1512 lead opened at RMB 13,060/mt on Monday night and ranged between RMB 13,040-13,120/mt, to close at RMB 13,105/mt, down RMB 40/mt or 0.3%. Trading volumes slipped 5,618 to 1,072 lots and positions fell 136 to 11,948.

The most active contract started Tuesday trading session at RMB 13,080/mt and fell back amid wary sentiment after hitting RMB 13,175/mt. The contract finally ended RMB 75/mt or 0.57% lower at RMB 13,070/mt. Trading volumes declined 3,796 to 2,894 lots and positions were down 604 to11,480.

Global demand stays weak. Eurozone’s manufacturing industries cut prices to boost trades. China’s manufacturing industries show signs of economy slowdown. US manufacturing index slowed after 4 months’ expansion.

SHFE 1512 lead will test support at RMB 13,000/mt this evening.