SHANGHAI, Aug. 10 (SMM) – On Tuesday’s night trading, SHFE 1609 lead opened at RMB 13,735/mt and then stabilized at RMB 13,660-13,760/mt before closing at RMB 13,760/mt.
On Wednesday, SHFE 1609 lead started at RMB 13,735/mt and ranged between RMB 13,725-13,840/mt before ending at RMB 13,765/mt, down RMB 60/mt or 0.43%. Trading volumes reduced 886 to 7,034 lots and positions fell 452 to 19,574. SHFE 1609 lead moved stably today with resistance at the 5 and 10-day moving averages. But lead holders held back sales for higher prices with limited stocks on hand. As such, SHFE 1690 lead should forest for gains the short term.