SMM, 18 October:

SS2002, the main contract for stainless steel futures, opened at 15180 yuan / ton in early trading this morning. Before noon, the multi-space is close to each other, the SS pressure daily average line narrow amplitude concussion, the amplitude 40 yuan / ton. In the afternoon, short significantly increased positions, SS straight down, fell below the ten thousand threshold, hit the bottom 14800 yuan / ton after the rebound, the top bearing pressure of 15140 yuan / ton. Near the close, the short profit left the market, closing at 15020 yuan / ton. Compared with the previous settlement day, it fell 255 yuan / ton, or 1.67%, to close in the negative line. 26950 hands were traded throughout the day, an increase of 4974 hands, a position of 16168 hands and an increase of 1302 hands. Short forces led, stainless steel fell for two days in a row, today fell below yesterday's bottom support level, closed in the Great Yin column, vigilant Wanwu pass. Weekly stainless steel center of gravity shows a stepped downward, there is no obvious stop signal, the price is expected to run weakly and steadily next week.