SHANGHAIM, Jun. 19 (SMM) – On Monday, SHFE 1707 lead opened at RMB 17,275/mt and then dipped to RMB 17,220/mt, hurt by positions opening by shorts. Later, the contract rallied quickly to RMB 17,485/mt and dived at the tail of trading with entering of shorts. SHFE 1707 lead closed at RMB 17,405/mt, up RMB 110/mt or 0.64%. Trading volumes increased 204 to 50,992 lots and positions reduced 2,284 to 33,574.
SHFE 1707 lead will keep rising in a short term with strong support.
![LME Lead Bottomed Out, While SHFE Lead Retreated After Rapid Rise and Consolidated [SMM Lead Morning Brief]](https://imgqn.smm.cn/usercenter/EhsCj20251217171721.jpeg)
![Tight Warehouse Supply in Jiangsu, Zhejiang, and Shanghai, Stronger Support From Firm Spot Price Offers [SMM Lead Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/yqTpQ20251217171721.jpeg)
