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[SMM stainless Steel Review] the reduction in the initial position of the SS2006 contract was significantly lower by 12500 yuan / ton.
Apr 28,2020 18:43CST
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Source:SMM
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SMM, 28 April:

[SMM stainless Steel Review]

Today, stainless steel SS2006 contract opened at 12820 yuan / ton, at the beginning of the day, SS2006 contract significantly reduced positions by more than 5000 hands, straight line down 12500 yuan / ton line, and then quickly rebounded to 12800 yuan / ton around the center of gravity around 12850 yuan / ton narrow shock; In the afternoon, the upper pressure of 12900 yuan / ton horizontal shock until the close, and finally closed at 12885 yuan / ton, compared with the settlement price of the previous trading day down 50 yuan / ton, down 0.39%, trading volume decreased by 12386 hands to 16685 hands, position reduced by 8710 hands to 15824 hands.

SS2006 contract closed today in the long lower shadow line small balcony, the shadow line pierced 20 EMA 12600 yuan / ton pass, the upper 5 / 10 moving average cross pressure, the overall operation of 12900 yuan / ton below, SS2006 contract has a gradual weakening trend, the late upper 12900 yuan / ton first-line pressure on the SS2006 contract, and close the main contract transfer to the month.

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