SHANGHAI, Dec. 24 (SMM) – SHFE 1602 lead started Wednesday night session at RMB 13,125/mt and climbed to RMB 13,205/mt. Then the contract moved around RMB 13,100/mt before ending at RMB 13,155/mt, up by RMB 155/mt or 0.88%.
SHFE lead twice challenged RMB 13,200/mt on Thursday and but reported no result. The contract fell back markedly near session’s end and ended at RMB 13,045/mt, growing RMB 5/mt or 0.04%. Trading volumes were up 1,978 to 13,040 lots with positions down 144 to 18,184.
SHFE 1602 lead holds at RMB 13,000/mt temporarily and longs are more than shorts for SHFE 1603 lead. Thus, SHFE 1602 lead will move on the strong side this evening.