Pre-Holiday Transactions were Muted and the Most-traded SHFE Lead Contract Lacked Upside Momentum

Published: Jan 17, 2023 16:20

Source: SMM

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The SHFE 2303 lead contract opened at 15,350 yuan/mt and rose 0.33% to 15,370 yuan/mt.

SHANGHAI, Jan 17 (SMM) - The SHFE 2303 lead contract opened at 15,350 yuan/mt and rose 0.33% to 15,370 yuan/mt. Open interest fell 683 lots to 78,905 lots, and trading volume declined 13,742 lots to 47,440 lots. SHFE lead hovered sideways, and the logistics services were gradually halted before the CNY holiday. Coupled with the downstream taking holidays in advance, the market transactions continued to weaken. Under the stable macro front, the most-traded SHFE lead contract will remain volatile in the short term.

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