SMM, 9 April:

[SMM stainless Steel Review]

Today, the stainless steel main contract SS2006 opened at 12245 yuan / ton, after the opening, the shock down to 12180 yuan / ton first line to stabilize, the center of gravity around the 12000 gate narrow shock. In the afternoon, the SS2006 contract slightly rebounded to 12280 yuan / ton first-line pressure, repeatedly fluctuating near the daily moving average. In late trading, the small uplink rebounded to 12300 yuan / ton again, and finally closed at 12295 yuan / ton, up 1.32% from the settlement price of the previous trading day. The trading volume decreased by 2268 hands to 13042 hands, and the position increased by 631 hands to 47426 hands.

SS2006 contract closed today in the small balcony, K column gradually away from the lower 5 / 10 moving average, explore 12300 yuan / ton level. This week, stainless steel SS2006 contract in the long position support slightly stronger, but the spot market is still in a weak state, follow up on the above pressure and the pullback trend caused by the increase and decrease of position.

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