SHANGHAIM, Jun. 23 (SMM) – On Friday, SHFE 1707 lead opened at RMB 17,750/mt and then fluctuated at RMB 17,660-17,770/mt. The contract later plunged to RMB 17,485/mt with positions opening by shorts, and rallied slightly as shorts took profits. SHFE 1707 lead declined to RMB 17,380/mt after shorts strengthened and closed at RMB 17,460/mt, down RMB 265/mt or 1.50%. Trading volumes fell 6,430 to 44,926 lots and positions dropped 4,616 to 30,262.
SHFE 1707 lead will keep hovering at highs in a short term.