SHFE Lead Ends with Losses (2016-8-12)-Shanghai Metals Market

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SHFE Lead Ends with Losses (2016-8-12)

Price Review & Forecast 04:47:08PM Aug 12, 2016 Source:SMM

SHANGHAI, Aug. 12 (SMM) – On Thursday’s night trading, SHFE 1609 lead opened at RMB 13,870/mt and then dropped to a session-low of RMB 13,790/mt before closing at RMB 13,820/mt.

On Friday, SHFE 1609 lead started at RMB 13,835/mt and moved around RMB 13,805/mt. The price later fell back from a high of RMB 13,860/mt and finally ended at RMB 13,805/mt, down RMB 30/mt or 0.22%. Trading volumes were down 3,312 to 4,744 lots and positions were up 112 to 19,872.

SHFE 1609 lead should fluctuate around RMB 13,800/mt for the short term with support from firm spot lead price. 

Price

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#1 Refined Cu
Sep.20
47395.0
-65.0
(-0.14%)
Standard-Grade Copper
Sep.20
47380.0
-70.0
(-0.15%)
High-Grade Copper
Sep.20
47415.0
-55.0
(-0.12%)
Guixi copper
Sep.20
47425.0
-55.0
(-0.12%)
Low-quality copper
Sep.20
47330.0
-85.0
(-0.18%)

SHFE Lead Ends with Losses (2016-8-12)

Price Review & Forecast 04:47:08PM Aug 12, 2016 Source:SMM

SHANGHAI, Aug. 12 (SMM) – On Thursday’s night trading, SHFE 1609 lead opened at RMB 13,870/mt and then dropped to a session-low of RMB 13,790/mt before closing at RMB 13,820/mt.

On Friday, SHFE 1609 lead started at RMB 13,835/mt and moved around RMB 13,805/mt. The price later fell back from a high of RMB 13,860/mt and finally ended at RMB 13,805/mt, down RMB 30/mt or 0.22%. Trading volumes were down 3,312 to 4,744 lots and positions were up 112 to 19,872.

SHFE 1609 lead should fluctuate around RMB 13,800/mt for the short term with support from firm spot lead price.