Home / Metal News / Nickel / [SMM stainless steel] stainless steel closed in the negative line for two consecutive days to sit on the 10-day moving average support level
[SMM stainless steel] stainless steel closed in the negative line for two consecutive days to sit on the 10-day moving average support level
Oct 31,2019 18:14CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 31 October:

SS2002, the main contract for stainless steel futures, opened at 15005 yuan / ton in early trading this morning. Before noon, the center of gravity of SS fluctuated around the range of 15020 yuan / ton, the amplitude was 70 yuan / ton, and the daily moving average of pressure was above. In the afternoon, the long position, SS was dragged down by the nickel fall, fell below the daily average, once bottomed 14925 yuan / ton. Near the close, the long position reduced, closing at 14985 yuan / ton. Compared with the previous settlement day, it was down 35 yuan / ton, or 0.23%. A daily transaction of 6612 hands, an increase of 1148 hands, holding 15984 hands, an increase of 246 hands, closed in the negative line. SS closed in the negative line entity on the high side throughout the day, 15000-15050 yuan / ton range to form a short concentrated approach position, sitting for two consecutive days to consolidate the 10-day moving average support level. In the near future, the interval is still dominated by multi-empty counterbalance game.

 

 

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