Home / Metal News / Nickel / [stainless Steel Review] stainless Steel follows Nickel Price to break through the 10-day moving average
[stainless Steel Review] stainless Steel follows Nickel Price to break through the 10-day moving average
Oct 29,2019 17:46CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

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.

 

 

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