SHANGHAIM, Jun. 21 (SMM) – On Wednesday, SHFE 1707 lead opened at RMB 17,535/mt and then slip to RMB 17,500/mt briefly. The contract later rallied to RMB 17,725/mt with entering of longs and then dropped due to longs taking profits. SHFE 1707 lead rebounded slightly at the tail of trading with positions opening by long and ended at RMB 17,600/mt, down RMB 75/mt or 0.42%. Trading volumes increased 5,070 to 56,964 lots and positions reduced 2,240 to 32,566.
SHFE 1707 lead will keep hovering at highs for the foreseeable future.