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SHFE Lead Strengthened (2017-5-11)
May 11, 2017 17:50Source:SMM
SHFE 1706 lead started at RMB 16,175/mt and closed above the 20-day moving average at RMB 16,340/mt.
SHANGHAI, May 11 (SMM) – On Thursday, SHFE 1706 lead started at RMB 16,175/mt and then climbed up. During the afternoon trading, the contract surged to RMB 16,425/mt with other base metals and declined slightly at the tail of trading. SHFE 1706 lead finally closed above the 20-day moving average at RMB 16,340/mt. The 5, 10 and 20-day moving averages shows support, but sluggish downstream consumption weighs down SHFE 1706 lead. Trading volumes fell 1,530 to 65,074 lots and positions reduced 1,292 to 45,568.
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