SHFE Lead Ends with Losses (2017-2-15)

SHANGHAI, Feb. 15 (SMM) – On Wednesday, SHFE 1703 lead opened at RMB 19,390/mt and then moved stably. During the afternoon trading, the contract advanced to RMB 19,520/mt briefly and then surrendered previous gains. SHFE 1703 lead closed at RMB 19,335/mt, down RMB 425/mt or 2.15%. Trading volumes dropped 10 to 63144 lots and positions fell 3,114 to 35,934. SHFE 1703 lead stabilized on Wednesday and declined with positions closing by longs and outflowing of capitals. But the contract will find strong support from the moving averages. SHFE 1703 lead will fluctuate at current price for a short term with mixed factors.

SHFE 1702 lead, delivering on Wednesday, opened at RMB 19,270/mt and stabilized with session highest level at RMB 19,380/mt and session lowest level at RMB 19,200/mt. The contract closed at RMB 19,290/mt, down RMB 220/mt or 1.13%. Trading volumes were down 530 to 320 lots and positions were up 50 to 7,750.