SMM, 17 April:
[SMM stainless Steel Review]
Today, stainless steel SS2006 contract opened at 12780 yuan / ton, after the opening, SS2006 contract shock downward, to 5-day moving average near, get support, followed by shock walking strong trend, afternoon, to 12900 yuan / ton line, facing upward pressure, pressure fall back, give up part of the increase to near the daily moving average and then stop falling again. 10 minutes before the close, the short reduction led the SS2006 contract to rise sharply, breaking through the 12900 yuan / ton line, exploring 12960 yuan / ton, and finally closing at 12945 yuan / ton, up 1.97% from the closing price of the previous trading day. The trading volume was reduced by 466 hands to 29678 hands, and the position was reduced by 797 hands to 46086 hands.
SS2006 contract closed today in the small balcony, the bottom of the 5-day moving average support, late attention to the upper 13000 yuan / ton level resistance.
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