SMM, 27 April:

[SMM stainless Steel Review]

Today, the stainless steel SS2006 contract opened at 12980 yuan / ton, the opening 10 minutes, the position reduction is obvious, a big drop of 5700 hands, stainless steel down sharply, down 12850 yuan / ton first line, then, a small recovery to 12900 yuan / ton first line small shock. At about 10:30, SS2006 pulled up and returned to the opening price near the top pressure of 13000 yuan / ton pass, interval concussion operation. In the afternoon, the SS2006 contract continued to weaken, the lower 12900 yuan / ton was temporarily supported, horizontal shock finishing, and finally closed at 12915 yuan / ton, down 65 yuan / ton, down 0.5% from the settlement price of the previous trading day, trading volume decreased by 8785 hands to 29071 hands, position reduced by 13305 hands to 24534 hands.

SS2006 contract closed today in the small negative column, the overall center of gravity in the 5 / 10 moving average shock operation, the upper 13000 yuan / ton level facing upward resistance. Today, SS2006 contract position has been significantly reduced, SS2007 contract position has exceeded 06 contract has become the main position, follow-up attention to the transfer of positions for the month.

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