SHANGHAI, Mar. 1 (SMM) – SHFE 1604 lead started higher at RMB 13,740/mt overnight due to RRR cut in China and closed the session down RMB 35/mt or 0.26% at RMB 13,660/mt with the session low at RMB 13,655/mt.
SHFE lead once sank to RMB 13,500/mt on Tuesday due to poor reading of China February official and Caixin manufacturing PMIs. The contract found support at the 20-day moving average and ended the day at RMB 13,660/mt, a loss of RMB 35/mt or 0.26%. Trading volumes plunged 8,098 to 8,424 lots with positions down 1,600 to 19,862.