SHANGHAI, Nov. 1 (SMM) – On Tuesday, SHFE 1612 lead started at RMB 16,600/mt and then moved at around RMB 16,710/mt. The contract gave up some previous gains at the tail of trading due to positions closing by longs and finally ended at RMB 16,590/mt, up RMB 120/mt or 0.73%. Trading volumes rose 8,940 to 34,432 lots and positions fell 1,596 to 28,846. China’s manufacturing PMI hit 27-month high in October, which was much higher than expected. Base metals rose across the board on Tuesday.
SHFE 1612 lead is predicted to keep rising momentum on Tuesday’s night trading.