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[SMM stainless Steel Review] the 13000 pass below the downlink of the SS2006 contract is temporarily supported.
Apr 21,2020 16:46CST
The content below was translated by Tencent automatically for reference.

SMM, 21 April:

[SMM stainless Steel Review]

Today, affected by the sharp drop in US crude oil, non-ferrous metals today collectively weakened, stainless steel also showed a downward trend, SS2006 contract opened at 13300 yuan / ton, the first line of 13500 yuan / ton higher at the beginning of the market, reversed the downward line, to 13100 yuan / ton line temporarily supported, stop the concussion operation. In the afternoon, under the guidance of the long position reduction, the stainless steel SS2006 contract fell below the 5-day moving average again, close to 12700 yuan / ton, and then the uphaul returned to the 13000 yuan / ton first-line narrow shock operation, and finally closed at 13030 yuan / ton, down 1.29% from the settlement price of the previous trading day, the position decreased by 2409 hands to 45989 hands, and the trading volume increased by 4564 hands to 41848 hands.

SS2006 contract closed in the negative column today, the upper shadow line rose 13500 yuan / ton, the lower shadow line pierced the 5-day moving average, close to the 60-day moving average, and finally closed above the 5-day moving average, still maintaining the 5-day moving average above the 5-day moving average. Yesterday and today, the increase and decrease of position is obvious, superimposed macro impact, price fluctuations, follow-up attention to stainless steel SS2006 contract can stabilize 13000 yuan / ton level, at the same time pay attention to the change of position.


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