SMM, 24 April:

[SMM stainless Steel Review]

Today, the stainless steel SS2006 contract opened at 12960 yuan / ton, the initial surge of 13180 yuan / ton after the shock down, fell below 13000 yuan / mark, down to the 10-day moving average to get support, narrow shock operation, until the close, finally closed at 12940 yuan / ton, down 75 yuan / ton, down 0.58% from the settlement price of the previous trading day, trading volume increased by 7330 hands to 37856 hands, position reduced by 6021 hands to 37839 hands.

SS2006 contract closed today in the small negative column, the overall weakening trend, the upper and lower lines pierced the 5 / 10 moving average, the upper 13000 yuan / ton line faced with resistance, late attention to stainless steel contract can stand firm 10-day moving average.

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