SHANGHAI, May 12 (SMM) – SHFE 1607 lead contract started at RMB 13,150/mt overnight and moved higher to around RMB 13,245/mt with closing prices at RMB 13,150/mt, up RMB 85/mt or 0.65%.
SHFE 1607 lead once dropped rapidly to RMB 13,055/mt on Thursday and ended at RMB 13,090/mt, up RMB 25/mt or 0.19%. Trading volumes were up 1,250 to 8,262 lots and positions grew 324 to 18,426.
SHFE 1607 lead should see weak trading tonight with resistance at the 10-day moving average.