SHANGHAI, May 2 (SMM) – On Tuesday, SHFE 1706 lead started at RMB 16,500/mt and then traced LME lead up to RMB 16,860/mt. The contract later rolled back gradually and closed at RMB 16,485/mt, up RMB 210/mt or 1.29%. Trading volumes fell 388,550 to 38,988 lots and positions dropped 372 to 48,396.
Upward strength of SHFE 1706 lead will be restricted by sluggish trading in spot market for the near term.
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