SHFE Lead Falls 0.75% on Firmness in Dollar (Dec. 3, 2015)

SHANGHAI, Dec. 3 (SMM) – SHFE 1602 lead started Wednesday evening session at RMB 12,620/mt before shooting up to RMB 13,000/mt. Then the contract moved in a tight range of RMB 12,610-12,720/mt and closed at RMB 12,690/mt, up by RMB 30/mt or 0.24%.

SHFE lead fell back on Thursday in response to US dollar and ranged between RMB 12,550-12,640/mt, to close at RMB 12,565/mt, falling RMB 95/mt or 0.75%. Trading volumes reduced 678 to 5,072 lots while positions were up 260 to 13,222.

SHFE 1602 lead is expected to remain weak this evening on the back of firm dollar.