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[SMM stainless Steel Futures Review] the main contract of stainless steel today is changed to SS2008. Stainless steel continues to weaken this week.
May 28,2020 19:23CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM May 28th: [SMM stainless Steel Futures Review] the main stainless steel contract transactions and positions have been replaced by SS2008 contracts. The night market of SS2008 contract opened at 13120 yuan / ton, then quickly dropped to around 13000 yuan / ton after opening, and then fluctuated within a narrow range of 13000 yuan / ton. At 0: 00, it was slightly revised up to near the daily moving average, and finally closed at 13050 yuan / ton. It opened at 13035 yuan / ton in the morning, strengthened slightly to the downward pressure near the five-day moving average, fell below the 13000 yuan / ton mark to 12960 yuan / ton, returned to a narrow range of shock operation around 13000 yuan / ton in the afternoon, and finally closed at 12980 yuan / ton, down 105 yuan / ton, or 0.8%, from the previous day's settlement price. the whole-day trading volume increased by 3275 to 20464, and the position increased by 7777 to 35005. Throughout the day, the SS2008 contract closed at the small negative column, faced with multiple moving average pressure, and has fallen below the middle position of the Boll line. Stainless steel contracts continued to weaken this week, and the spot market also showed a weak trend, follow-up attention to the support of the lower 40-day moving average.

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