[SMM stainless steel review] SS2007 contract gets 20-day support under the 5-day average under pressure today.

Published: May 26, 2020 17:46

SMM May 26th: [SMM stainless steel futures review] SS2007 contract night trading opened at 13295 yuan / ton, after opening at night, led by bulls reducing positions, all the way down to 13150 yuan / ton, and then gradually revised up to near the opening price, closing at 13250 yuan / ton. It opened at 13255 yuan / ton the next morning. At the beginning of the session, it rose slightly to 13300 yuan / ton, hit the 5-day moving average and fell back. It was temporarily supported near the 20-day moving average below. The center of gravity fluctuated around 13270 yuan / ton in a narrow range and finally closed at 13250 yuan / ton. Compared with the settlement price of the previous day, the settlement price increased by 25 yuan / ton, or 0.19%. The daily trading volume increased by 2161 to 26023, and the position decreased by 14362 to 23322. Throughout the day, the SS2007 contract closed in the small Yin column, the upper pressure 5-day moving average, the lower 20-day moving average support, the K-column as a whole stands in the 5 / 20 moving average range. The resistance at the top of 13300 yuan / ton is relatively strong, follow-up pay attention to the pressure of the 5-day moving average above the SS2007 contract.

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)

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 to learn 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
Data: SHFE, DCE market movement (Apr 07)
5 hours ago
Data: SHFE, DCE market movement (Apr 07)
Read More
Data: SHFE, DCE market movement (Apr 07)
Data: SHFE, DCE market movement (Apr 07)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 07 Apr , 2026
5 hours ago
[SMM Nickel Intermediate Product Daily Review] April 7: MHP and High-Grade Nickel Matte Nickel Prices Declined
9 hours ago
[SMM Nickel Intermediate Product Daily Review] April 7: MHP and High-Grade Nickel Matte Nickel Prices Declined
Read More
[SMM Nickel Intermediate Product Daily Review] April 7: MHP and High-Grade Nickel Matte Nickel Prices Declined
[SMM Nickel Intermediate Product Daily Review] April 7: MHP and High-Grade Nickel Matte Nickel Prices Declined
As of now, the FOB price of Indonesian MHP nickel was $15,341/mt Ni, and the FOB price of Indonesian MHP cobalt was $51,425/mt Co. MHP payables (against SMM battery-grade nickel sulphate index) stood at 86-87, and the MHP cobalt element payable indicator (against SMM refined cobalt (Rotterdam warehouse)) was 94. The FOB price of Indonesian high-grade nickel matte was $15,623/mt Ni.
9 hours ago
[SMM Stainless Steel Flash] Guangdong Nachuan Granted EIA Approval for 150k-Unit Stainless Project
9 hours ago
[SMM Stainless Steel Flash] Guangdong Nachuan Granted EIA Approval for 150k-Unit Stainless Project
Read More
[SMM Stainless Steel Flash] Guangdong Nachuan Granted EIA Approval for 150k-Unit Stainless Project
[SMM Stainless Steel Flash] Guangdong Nachuan Granted EIA Approval for 150k-Unit Stainless Project
The Environmental Impact Assessment (EIA) for Guangdong Nachuan New Materials Co., Ltd.'s relocation project was officially approved. The facility is designed for an annual output of 150,000 wear-resistant stainless steel parts, alongside 25,000 cast iron units and 26,000 alloy steel units. This approval paves the way for the company to scale up its high-performance material production, strengthening its supply capacity for industrial wear-resistant components.
9 hours ago
[SMM stainless steel review] SS2007 contract gets 20-day support under the 5-day average under pressure today. - Shanghai Metals Market (SMM)