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.