SHANGHAI, May 24 (SMM) – SHFE 1607 lead contract started at RMB 12,625/mt overnight and moved lower to RMB 12,590/mt before rebounding to RMB 12,730/mt. The contract moved around RMB 12,655/mt and closed at RMB 12,655/mt, down RMB 90/mt or 0.71%.
SHFE 1607 lead opened at RMB 12,650/mt on Tuesday and moved between RMB 12,650-12,710/mt before diving to RMB 12,615/mt. The contract ended at RMB 12,640/mt, off RMB 105/mt or 0.82%. Trading volumes were down 2,490 to 8,318 lots and positions dropped 1,280 to 13,364.
SHFE 1607 lead may test support at RMB 12,600/mt tonight.