SMM, May 20:
[SMM stainless Steel Review]
Night trading, SS2007 contract opened at 13485 yuan / ton, the top 13500 yuan / ton line is still facing uplink resistance, the overall 13400 Rue 13500 range shock operation, and finally closed at 13435 yuan / ton. Opening in the morning, the continuation of the night range shock trend, the center of gravity around the daily average of 13470 yuan / ton near a small shock. In the afternoon, the SS2007 contract continued to weaken, falling slightly below the 13400 yuan / ton mark and finally closing at 13380 yuan / ton, down 100 yuan / ton, or 0.74%, compared with the settlement price of the previous day. The whole day's trading volume decreased by 4122 lots to 21369 lots, while its position increased by 951 lots to 54569 lots.
Throughout the day, the SS2007 contract closed at the small negative column, the 5 / 10 average gradually approached the 13400 yuan / ton line, and the technical line MACD red column gradually shortened. Stainless steel main contract this week as a whole showed a range shock trend, follow-up attention to the stainless steel contract below the 5 / 10 moving average support.
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