SHANGHAI, Jun. 14 (SMM) – On Wednesday, SHFE 1707 lead opened at RMB 16,750/mt and then dipped to RMB 16,770/mt briefly. The contract later declined further to RMB 16,685/mt, hurt by entering of shorts, and rallied with positions opening by longs. SHFE 1707 lead closed at RMB 16,975/mt, up RMB 105/mt or 0.62%. Trading volumes increased 4,772 to 64,860 lots and positions reduced 2,184 to 35,972.
SHEF 1707 lead will hover at highs for the foreseeable future.