SHFE Lead Grows 0.43% (Mar. 4, 2016)

SHANGHAI, Mar. 4 (SMM) – SHFE lead opened higher at RMB 13,885/mt overnigh before ranging RMB 13,845-13,945/mt, to end at RMB 13,870/mt, up RMB 40/mt or 0.29%.

SHFE lead climbed to RMB 13,950/mt on Friday but later sank to RMB 13,765/mt with longs exiting market, to close at RMB 13,890/mt, a gain of RMB 60/mt or 0.43%. Trading volumes grew 2,082 to 10,946 lots with positions down 1,366 to 17,870.

SHFE 1604 lead will be hard to break through RMB 14,000/mt this evening with positive technical indicators but weak fundamentals.