SHANGHAI, Jun. 12 (SMM) – On Monday, SHFE 1707 lead opened at RMB 16,985/mt and then advanced to RMB 17,100/mt with positions closing by shorts. Later, the contract declined marginally due to longs taking profits and fluctuated between RMB 17,010-17,060/mt. SHFE 1707 lead ended at RMB 17,070/mt, up RMB 220/mt or 1.31%. Trading volumes fell 5,028 to 59,566 lots and positions reduced 2,516 to 39,296.
SHFE 1707 lead will stay firm for the near term.