SHFE Lead Finishes with Small Gains (2017-5-8)

SHANGHAI, May 8 (SMM) – On Monday, SHFE 1706 lead started at RMB 16,120/mt and then plunged to RMB 15,805/mt. Later, the contract rallied to RMB 16,080/mt at the tail of trading with shorts taking profits, and closed at RMB 16,050/mt, up RMB 30/mt or 0.19%. Positions increased 406 to 49,714 and trading volumes rose 15,768 to 74,984 lots.

SHFE 1706 lead, weighed by the moving averages, will remain weak for the near term.