SHFE Lead Ends Higher (2016-10-11)

SHANGHAI, Oct. 11 (SMM) – On Monday’s night trading, SHFE 1611 lead opened at RMB 15,740/mt and then mainly moved at RMB 15,720/mt. The contract advanced to RMB 15,775/mt at the tail of trading and closed at RMB 15,780/mt.

On Tuesday, SHFE 1611 lead started at RMB 15,755/mt and then fluctuated at around RMB 15,800/mt. The contract rose to RMB 15,915/mt at the tail of trading and finally ended at RMB 15,880/mt, up RMB 265/mt or 1.7%. Trading volumes were down 1,112 to 15,414 lots and positions were up 788 to 31,002. Ferrous metals kept rising on Tuesday and non-ferrous metals also increased. SHFE 1610 lead once touched a high level of RMB 16,000/mt on Tuesday. It is heard that a new round of environmental protection inspections will start again in Anhui, Shandong and Hubei, and small primary lead smelters in those regions will shut down again, and this will affect lead supply.

SHFE 1611 lead should keep upward momentum for the short term.