SHANGHAI, Oct. 17 (SMM) – On last Friday’s night trading, SHFE 1611 lead started at RMB 15,440/mt and rallied to RMB 15,645/mt. But the contract later gave up some previous gains to RMB 15,480/mt before closing at RMB 15,465/mt.
On Monday, SHFE 1611 lead opened at RMB 15,475/mt and rose slightly to RMB 15,430-15,580/mt. The contract finally closed at RMB 15,510/mt, up RMB 125/mt or 0.81%. Trading volumes reduced 614 to 9,584 lots and positions decreased 1,082 to 23,154.
SHFE 1611 lead is predicted to range between the 5 and 10-day moving averages for the short term.
Monday was the last trading day for SHFE 1610 lead contract. SHFE 1610 lead started at RMB 15,635/mt on Monday and then dropped slightly before ending at RMB 15,560/mt, down RMB 75/mt or 0.48%. The settlement price was RMB 15,555/mt. Trading volumes declined 440 to 40 lots and positions fell 20 to 5,070.