SHANGHAI, May 18 (SMM) – On Thursday, SHFE 1707 lead, becoming the most actively traded one, opened at RMB 15,798/mt and then dipped to RMB 15,535/mt. The contract later rallied to RMB 15,640/mt with entering of longs. During the afternoon trading, SHFE 1707 lead plunged to the daily lowest level at RMB 15,495/mt, refreshing the year’s lowest level again. The contract ended at RMB 15,535/mt, down RMB 245/mt or 1.55%. Positions rose 4,670 to 35,958 and trading volumes increased 6,094 to 31,710 lots.
SHFE 1707 lead will is likely to drop to RMB 15,200/mt.