SHANGHAI, May 26 (SMM) – On Friday, SHFE 1707 lead opened at RMB 15,930/mt and then climbed to RMB 16,010/mt briefly with positions opening by longs. Later, the contract fluctuated at RMB 15,950-16,000/mt, and ended higher by RMB 50/mt or 0.31% to RMB 15,980/mt. Trading volumes increased 6,764 to 51,978 lots and positions rose 1,416 to 42,692. SHFE 1707 lead increased for 3 days in a row with strong support at RMB 15,800/mt but met resistance at RMB 16,000/mt.
SHFE 1707 lead will keep fluctuating at current level for the foreseeable future.