Home / Metal News / Nickel / [brief Review of SMM stainless Steel Futures] stainless Steel prices are too strong to fluctuate and short-term highs are difficult to achieve effective breakthroughs
[brief Review of SMM stainless Steel Futures] stainless Steel prices are too strong to fluctuate and short-term highs are difficult to achieve effective breakthroughs
Oct 15,2019 16:14CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 15 October:

SS2002, the main contract for stainless steel futures, opened at 15505 yuan / ton in early trading this morning. At the beginning of the day, SS tried to break through the daily average failed, then short to increase positions, SS center of gravity around 15520 yuan / ton interval shock, amplitude 80 yuan / ton. In the afternoon, the center of gravity of SS moves down, the bottom 15360 yuan / ton is supported, the center of gravity fluctuates in a narrow range around 15460 yuan / ton, and the amplitude is 70 yuan / ton. Near the close, short position reduction, closed at 15440 yuan / ton, compared with the previous settlement day fell 335 yuan / ton, down 2.12%, closed in the big negative line. Daily transactions of 23070 hands, an increase of 13228 hands, holding 14770 hands, 4 hands less than yesterday. Dragged down by the decline in nickel prices, stainless steel prices today under pressure daily average operation, the center of gravity down, long risk aversion, short low profit-taking, mainly to close positions, the formation of the latest bottom support since listing.

Stainless steel spot
stainless steel price
trend forecast
SMM brief review

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news