SHANGHAI, Nov. 18 (SMM) – On Friday, SHFE 1701 lead started at RMB 17,850/mt and then stabilized at around RMB 17,695/mt. During the afternoon trading, SHFE 1701 lead rallied to RMB 17,745/mt and then stabilized after falling to RMB 17,600/mt. The contract increased at the tail of trading and finally closed at RMB 17,835/mt, down RMB 100/mt or 0.56%. Trading volumes fell 22,962 to 35,142 lots and positions decreased 718 to 29,192. Base metals rebounded across the board on Friday while SHFE 1701 lead dropped slightly but still hovered at highs.
Attention should be on US leading economic indicators by Conference Board in October on Friday night. US dollar index is expected to drop from highs. SHFE 1701 lead will increase to above the 5-day moving average on Friday’s night trading.