SHANGHAIM, Jun. 26 (SMM) – On Monday, SHFE 1707 lead opened at RMB 17,260/mt and then advanced to RMB 17,375/mt with entering of longs. Later, the contract dipped to RMB 17,100/mt as shorts strengthened, and tallied at the tail of trading. SHFE 1707 lead closed at RMB 17,300/mt, down RMB 160/mt or 0.92%. Trading volumes increased 4,772 to 49,698 lots and positions reduced 3,886 to 21,760. Price gap between SHFE 1707 and 1708 lead was RMB 120/mt. Trading volumes of SHFE 1708 lead increased 16,838 to 57,296 lots and positions rose 3,188 to 39,018.
SHFE 1707 lead will find support at RMB 17,100/mt in a short term.