SHFE Lead Prices Up 2.82% (2016-11-23)

SHANGHAI, Nov. 23 (SMM) – On Wednesday, SHFE 1701 aluminum opened at RMB 18,935/mt and then stabilized at around RMB 18,950/mt. During the afternoon trading, SHFE 1701 lead advanced to RMB 19,250/mt quickly with entering of longs and then fluctuated. The contract kept rising to RMB 19,355/mt at the tail of trading before a decline and finally ended at RMB 19,170/mt, up RMB 525/mt or 2.82%. Trading volumes increased 4,730 to 73,616 lots and positions rose 3,806 to 39,858. Offshore yuan fell below 6.92, refreshing the record low level. Base metals moved firmly and SFHE 1701 lead hit a historical high again on Wednesday.

SHFE 1701 lead is expected to keep hovering at highs on Wednesday’s night trading, refrained by stricter regulations from the bourse.