[stainless steel review] stainless steel intra-day multi-space game ends at the small positive line

Published: Oct 22, 2019 17:16

Save

SMM, 22 Oct:

SS2002, the main contract for stainless steel futures, opened at 14870 yuan / ton in early trading this morning. Before noon, SS first suppressed and then raised, the upper pressure 14900 yuan / ton pass, the lower 14780 yuan / ton supported. In the afternoon, the multi-space is close to each other, and the center of gravity of SS fluctuates in a narrow range around the daily average, with an amplitude of about 50 yuan / ton. Near the close, short positions reduced, closing at 14895 yuan / ton. Compared with the previous settlement day, fell 5 yuan / ton, down 0.03%, closed at the small positive line. For the whole day, 10304 hands were traded, minus 14622 hands, and 18188 hands were held, an increase of 576 hands. Day stainless steel multi-empty game, close to each other, hold the bottom position, is expected to be weak consolidation in the short term.

Stainless steel spot stainless steel price trend forecast SMM brief review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

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

Related News

2 hours ago

[SMM Nickel Flash News] Daily Update — September 21, 2026

In terms of prices, Indonesian nickel ore CIF average prices remained at the latest assessed levels: 1.2% Ni: CIF average price at $27/wmt 1.4% Ni: CIF average price at $51.8/wmt 1.5% Ni: CIF average price at $58.5/wmt 1.6% Ni: CIF average price at $63.4/wmt Indonesia Policy & Market Update — September 21, 2026 The Indonesian nickel ore market remains cautious as market participants continue to monitor the progress of supplementary RKAB approvals. Additional approvals are gradually entering the market, but the total volume of supplementary quota has yet to be officially released. PT Vale Indonesia is also awaiting approval for additional RKAB quota for its operations, with the company having previously indicated that its initial allocation covered only part of its requested volume. Meanwhile, the revised nickel ore HPM formula, effective September 15, has lowered the HPM for low-grade limonite. The 1.2% Ni limonite HPM has fallen to $24.89/wmt, significantly below current market prices. Market attention is now focused on how additional RKAB supply and HPAL demand will affect limonite pricing and whether market prices will gradually move closer to the new HPM level. Overall, RKAB approvals, the release of additional quota and the response of HPAL and RKEF buyers remain the key factors to watch for the Indonesian nickel ore market in the near term.

2 hours ago

3 hours ago

Indonesian MHP Nickel and Cobalt FOB Prices Drop, High-Grade Nickel Matte Down $40/mt Ni

According to SMM data, on September 21, the FOB price of Indonesian MHP nickel fell by $199/mt Ni from the previous day, and the FOB price of Indonesian MHP cobalt fell by $723/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $40/mt Ni.

3 hours ago

[SMM Stainless Steel Flash] Indonesia Stainless Steel Prices Rise Across the Board by USD30/ton Today

According to SMM, stainless steel prices in Indonesia rose across the board by USD30/ton today. Latest prices are as follows: 304/2B coil mill edge (FOB) avg. USD2,142.50/t; 304/NO.1 coil mill edge (FOB) avg. USD2,032.50/t; 316L/2B coil mill edge (FOB) avg. USD4,242.50/t; 316L/NO.1 coil mill edge (FOB) avg. USD4,132.50/t.

3 hours ago