SHFE Lead Ends with Small Gains (2016-8-17)

SHANGHAI, Aug. 17 (SMM) – On Tuesday’s night trading, SHFE 1609 lead opened higher at RMB 13,655/mt and then plunged to RMB 13,485/mt before a slight rebound. The contract finally closed at RMB 13,570/mt.

On Wednesday, SHFE 1609 lead started at RMB 13,575/mt and ended up RMB 10/mt or 0.07%at RMB 13,540/mt, with the session-high of RMB 13,600/mt and the session-low of RMB 13,525/mt. Trading volumes reduced 4,488 to 6,780 lots and positions fell 704 to 15,556.

SHFE 1609 lead should fluctuated between the 5 and 40-day moving averages for the short term.