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SHFE Lead Prices Grow Further (2017-6-6)
Jun 6,2017 16:59CST
price review forecast
Source:SMM
SHFE 1707 lead opened at RMB 16,615/mt and closed at RMB 16,605/mt, up RMB 105/mt or 0.64%.

SHANGHAI, Jun. 6 (SMM) – On Tuesday, SHFE 1707 lead opened at RMB 16,615/mt and then slid to RMB 16,545/mt, hurt by positions opening by shorts. The contract later advanced to RMB 16,695/mt due to leaving of shorts and fell slightly at the tail of trading. SHFE 1707 lead closed at RMB 16,605/mt, up RMB 105/mt or 0.64%. Trading volumes fell 3,388 to 78,250 lots and positions rose 816 to 44,846. SHFE 1707 lead found strong support at the moving averages but met resistance at the 60-day moving average.

The contract will try to break through the resistance in a short term.

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