SHANGHAI, Aug. 8 (SMM) – On last Friday’s night trading, SHFE 1609 lead opened at RMB 13,950/mt and then stabilized around RMB 13,930/mt. And the contract traced LME lead down before finally closing at RMB 13,830/mt.
On Monday, SHFE 1609 lead started at RMB 13,755/mt and ranged around RMB 13,885/mt. During the afternoon business, the contract decreased slightly to a low of RMB 13,815/mt. SHFE 1609 lead finally ended at RMB 13,900/mt after rebounding at the tail of trading, up RMB 90/mt or 0.65%. Trading volumes were up 584 to 9,542 lots and positions were down 330 to 21,014.
SHFE 1609 lead is expected to fluctuate at current price for the short term with positive technical indicators.