SHANGHIA, Sept. 8 (SMM) – On Wednesday’s night trading, SHFE 1610 lead opened lower at RMB 14,160/mt and soared to RMB 14,325/mt before falling to RMB 14,115/mt. The contract finally ended at RMB 14,150/mt.
On Thursday, SHFE 1610 lead started at RMB 14,160/mt and then ranged at RMB 14,130-14,210/mt before ending at RMB 14,135/mt, down RMB 130/mt or 0.91%. Trading volumes dropped 1,036 to 9,514 lots and positions reduced 1,040 to 18,798. SHFE 1610 lead fluctuated in a small range below the 10-day moving average on Thursday.
SHFE 1610 lead is expected to keep fluctuating for the short term with declines in trading volumes.