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SHFE Lead Sees a Loss of 1.12% (Dec. 18, 2015)
Dec 18,2015 17:52CST
price review forecast
Source:SMM
SHFE 1602 lead started at RMB 12,805/mt for night trading Thursday and moved lower to RMB 12,640/mt.

SHANGHAI, Dec. 18 (SMM) – SHFE 1602 lead started at RMB 12,805/mt for night trading Thursday and moved lower to RMB 12,640/mt with shorts gathering strength, to end at RMB 12,645/mt, down by RMB 315/mt or 2.43%.

SHFE lead moved in a tight range of RMB 12,700-12,750/mt on Friday and later climbed to RMB 12,860/mt due to news of stockpiling on Chinese copper market, to close at RMB 12,815/mt, falling RMB 145/mt or 1.12%. Trading volumes were up 5,958 to 23,346 lots and positions grew 576 to 18,136.

SHFE 1602 lead moved around RMB 12,800/mt currently and should find support at the 40 and 60-day moving averages. SHFE 1602 lead will likely be slow to fall due to stockpiling news. 


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