SHANGHAI, Mar. 17 (SMM) – SHFE 1605 lead opened at RMB 13,485/mt overnight and moved higher to RMB 13,585/mt. The contract later fell back after meeting resistance at the 20-day moving average and closed down RMB 35/mt at RMB 13,495/mt.
The May-delivery lead on SHFE increased rapidly after starting Thursday trading session and touched a high of RMB 13,710/mt. The contract failed to break through the 10-day moving average and finally ended at RMB 13,685/mt, a rise of RMB 155/mt or 1.15%. Trading volumes reduced 1,014 to 8,458 lots and positions dropped 222 to 18,364.