SHANGHAI, Nov. 22 (SMM) – On Tuesday, SHFE 1701 lead opened at RMB 18,470/mt and then increased sharply to above RMB 19,000/mt. During the afternoon trading, SHFE 1701 lead fluctuated narrowly and advanced to its daily upward limit at the tail of trading. The contract finally ended at RMB 19,095/mt, up 5.97%. Trading volumes increased 8,818 to 68,886 lots and positions rose 4,312 to 36,052. Ferrous metals climbed to their daily upward limits on Tuesday, supporting base metals, and SHFE 1701 lead refreshed new high again.
SHFE 1701 lead will be sensitive to rise with firm spot lead in China’s market and strengthening expectation of yuan’s depreciation.