SHANGHAI, Mar. 3 (SMM) – On Friday, SHFE 1704 lead opened at RMB 18,530/mt and then stabilized with a session lowest at RMB 18,425/mt. The contract ended at RMB 18,570/mt, down RMB 260/mt or 1.38%. Trading volumes fell 14,366 to 49,694 lots and positions dropped 1,278 to 39,002. SHFE 1704 lead declined below all the moving averages again on Friday, hurt by sluggish consumption at end-user market.
SHFE 1704 lead will remain weak in a short term.