SHANGHAI, Nov. 25 (SMM) – Eyes should be on US’s economic data on Friday, including wholesale inventories in October, Markit service and composite PMI in November, which is expected to be higher than October’s level. US dollar index will increase and offshore yuan will stabilize above 7. LME lead is predicted to move at USD 2,235-2,255/mt on Friday and SHFE 1701 lead will range between RMB 20,200-20,400/mt.
In China’s domestic market, suppliers raise prices up as SHFE 1701 lead surges while downstream battery producers take a wait-and-see stance, leading sluggish trading. Spot lead will rise RMB 200/mt and trade at RMB 19,950-20,050/mt on Friday.