[SMM stainless Steel Futures Review] SS2007 contract fell today and gave up its rising trend in the past two weeks.

Published: May 22, 2020 16:35 (GMT+8)

Save

SMM, May 22:

[SMM stainless Steel Review] the SS2007 contract opened at 13600 yuan / ton at night, continued to weaken after opening at night, and stabilized at 13400 yuan / ton, with the center of gravity around a narrow range near the 5 / 10 moving average. One minute before the close, or due to the impact of Shanghai nickel straight down to the limit, stainless steel fell straight to close at 13350 yuan / ton. Morning trading opened at 13330 yuan / ton, continuing the nocturnal shock downward trend, continuing the weakening stage, falling below the 20-day moving average of 13200 yuan / ton, as low as 13090 yuan / ton, giving up all the gains in the past two weeks, and finally closing at 13120 yuan / ton. compared with the previous trading day, the settlement price fell 295 yuan / ton, or 2.2%. The whole-day trading volume increased by 8573 lots to 44214 lots, and the position decreased by 6455 lots to 47115 lots. Throughout the day, the SS2007 contract closed at the long negative column, falling below several moving averages, and the first line was temporarily supported at 13100 yuan / ton in the middle of the Boll line. K-pillar stood in the middle rail range of the Boll line as a whole, and today's decline gave up nearly two weeks of gains. MACD red column to green column, follow-up attention to the SS2007 contract under the 13000 yuan / ton mid-orbit support, but also concerned about the trend of nickel futures on the impact of stainless steel futures market trend.

For more information, please subscribe to SMM Nickel Research Group products "China Ni-Cr stainless Steel Industry chain routine report" and "China Ni-Cr stainless Steel Industry chain High-end report" to get the latest data analysis and market analysis of nickel ore, nickel pig iron (China + Indonesia), electrolytic nickel, nickel sulfate, chromium ore, ferrochrome and stainless steel (China + Indonesia). For order and trial, please call 021 tel 5166 6817 QQ: 2880 505562, contact: Li Chuntian]

（上海有色网李春田 TEL：021-5166 6817 QQ ：2880505562）

SMM Review Daily Review Futures Review stainless Steel Review trend Forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

[SMM Nickel Flash News] Indonesia Update — October 5, 2026

Indonesian nickel ore CIF average prices remained broadly stable, with the latest SMM assessment: 1.2% Ni: CIF price at $25.5/wmt, unchanged 1.3% Ni: CIF price at $27.5/wmt, unchanged 1.4% Ni: CIF price at $48.7/wmt, unchanged 1.5% Ni: CIF price at $54.2/wmt, unchanged 1.6% Ni: CIF price at $59.0/wmt, unchanged In the upstream market, nickel ore prices have weakened from late-September levels as additional RKAB quotas gradually enter the market and sellers face increasing pressure to adjust prices. SMM reported that discounts have officially emerged, with some ore prices falling below the HPM benchmark. Meanwhile, the first-half October nickel HMA was reduced to $16,322.67/mt, down $375.33/mt, or 2.25%, from the second-half September HMA of $16,698/mt.

10 hours ago

【SMM Nickel Flash News】Nickel Weather Risks Remain Manageable on October 5–11

Weather conditions across major nickel-producing and logistics areas in the Philippines, Indonesia and China are expected to remain generally manageable on October 5–11, with localized weather potentially causing short-term operational disruptions. In the Philippines, Palawan and Surigao may see scattered rain and thunderstorms on October 6–7, while rainfall could increase in Eastern Visayas and Mindanao on October 8–9, posing temporary risks to mine-road transport, ore barging and vessel loading. In Indonesia, Morowali and Konawe are expected to remain relatively stable, with low rainfall and no significant storm activity. Halmahera and Obi may see occasional rain and stronger winds, which could briefly affect marine logistics. In China, major nickel ore receiving ports are expected to remain largely operational, although localized rain and stronger winds could cause brief delays to vessel handling and cargo transportation.

10 hours ago

15 hours ago

[SMM Nickel Flash News] Unrest at PT Askon in Morowali Raises Concerns

On October 2, protests over mining-related dust and environmental impacts escalated into unrest at PT Astima Konstruksi (PT Askon) in Matarape Village, Morowali Regency, Central Sulawesi, Indonesia. Local media reported that protesters burned several vehicles and excavators, while access to the company's hauling road and jetty was blocked, disrupting material transportation. Police subsequently evacuated Chinese nationals from the site. The incident has raised concerns over potential disruptions to nearby nickel mining and logistics activities. However, as of October 5, no confirmed reports have established the extent of production suspensions or reductions at specific nickel mines. Further attention should be paid to the restoration of transportation access, local security conditions, and any subsequent impact on nickel ore supply.

15 hours ago