SHANGHAI, Nov. 25 (SMM) – On Friday, SHFE 1701 lead opened at RMB 20,305/mt and then stabilized at around the moving average. The contract later dropped to RMB 19,805/mt and rallied to RMB 20,130/mt before fluctuating. SHFE 1701 lead advanced to RMB 20,475/mt during European trading hours and finally closed at RMB 20,180/mt, up RMB 570/mt or 2.91%. Trading volumes increased 20,460 to 126,682 lots and positions rose 240 to 40,664. Base metals strengthened again on Friday with optimistic outlook. SHFE 1612 lead increased to its daily upward limit on Thursday. Positions of SHFE 1612 lead decreased significantly on Friday. SHFE 1701 lead refreshed the highest level again with capitals flowing into market by long investors.
SHFE 1701 lead will be sensitive to rise for the short term with positive fundamentals and optimistic outlook.