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SHFE Lead Ends with Small Gains (2017-4-5)
Apr 5, 2017 17:30Source:SMM
SHFE 1705 lead opened at RMB 17,300/mt and ended at RMB 17,535/mt, up RMB 125/mt or 0.72%.
SHANGHAI, Apr. 5 (SMM) – On Wednesday, SHFE 1705 lead opened at RMB 17,300/mt and then increased, and fluctuated widely at RMB 17,200-17,625/mt. The contract ended at RMB 17,535/mt, up RMB 125/mt or 0.72%. Trading volumes fell 43,300 to 47,766 lots and positions dropped 3,478 to 49,080. SHFE 1705 lead stopped falling after Chinese Qingming Festival and moved above the 5-day moving average due largely to positions closing by shorts. Besides, downstream battery market demand is poor due to off-season, slacking SHFE 1705 lead.
SHFE 1705 lead will remain weak for the foreseeable future.
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LME lead
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