SHANGHAI, Apr. 10 (SMM) – On Monday, SHFE 1705 lead started at RMB 17,370/mt and then stabilized briefly. During the afternoon trading, the contract dived sharply with positions closing by longs and closed at RMB 16,325/mt, down RMB 1,215/mt or 6.93%. Trading volumes increased 64,298 to 125,000 lots and positions increased 992 to 51,654.
SHFE 1705 lead may rally slightly son Monday’s night trading but will remain weak for the near term with negative technical indicators.