SHFE Lead Ends with Losses (2017-2-22)

SHANGHAI, Feb. 22 (SMM) – On Wednesday, SHFE 1704 lead started at RMB 18,920/mt and then stabilized. During the afternoon trading, SHFE 1704 lead dropped to RMB 18,780/mt with falling LME lead. The contract rallied slightly at the tail of trading and closed at RMB 18,825/mt, down 315/mt or 1.65%. Trading volumes increased 8,164 to 48,118 lots and positions rose 2,970 to 35,342.

SHFE 1704 lead will keep fluctuating between the 10 and 40-day moving averages for the foreseeable future.