[stainless Steel Review] stainless Steel follows Nickel Price to break through the 10-day moving average

SMM, 29 Oct:

SS2002, the main contract for stainless steel futures, opened at 15000 yuan / ton in early trading this morning. Before noon, with the rise in nickel prices SS shock break through the daily average, touch high 15225 yuan / ton. In the afternoon, dragged down by nickel prices, long profit-taking, SS shock downward, the bottom 15000 yuan / ton pass was supported. Near the close, short positions reduced, closing at 15025 yuan / ton. It was up 80 yuan / ton, or 0.54%, from the previous settlement day. Daily transaction of 13946 hands, an increase of 4354 hands, holding 15906 hands, minus 496 hands, closed in the negative line, the bottom 5-day moving average is supported, breaking through the top 10 pressure level, SS trend all day to follow the nickel price on the strong side.