SHANGHAI, Oct. 27 (SMM) – SHFE 1512 lead started at RMB 13,235/mt on Monday night and broke out above the 5-day moving average thanks to bolstering sentiment from the convening of the 5th Plenary Session of the 18th Central Committee of the CPC, to end at RMB 13,280/mt, up RMB 50/mt or 0.38%. Trading volumes fell 4,130 to 1,140 lots but positions increased 132 to 14,100.
SHFE lead moved lower to RMB 13,195/mt on Tuesday but later advanced to RMB 13,350/mt with longs entering market, to close at RMB 13,330/mt, up RMB 100/mt or 0.76%. Trading volumes were up 1,840 to 7,110 lots but positions declined 180 to 13,788. Profits at large industries fell 0.1% YoY in September, above August’s. This helped bolster market sentiment.