SHANGHAI, Jul. 15 (SMM) – During Monday night session, SHFE 1509 lead started at RMB 13,040/mt and ended the session at RMB 13,190/mt.
China’s new RMB loans for June and M2 supply balance beat forecasts on Tuesday. SHFE lead responded by advancing above RMB 13,220/mt but later the price slipped to RMB 13,100/mt due to strengthening dollar and falling crude oil prices. The contract finally finished up RMB 390/mt or 3.23% at RMB 13,255/mt thanks to reducing shorts.Trading volumes came in at 5,634 lots with positions up 402 to 12,900.