SMM, July 1:
The overnight Shanghai Nickel 08 contract opened high and low last night, opened at 103190 yuan / ton, immediately fell sharply to 102100 yuan / ton after opening, 10-day moving average level was supported and rebounded, the daily average line 102500 yuan / ton short-term shock continued to go down, breaking 102000 yuan / ton, this level changed from support level to pressure level, Shanghai nickel pressure concussion until closing, and finally closed at 101750 yuan / ton, down 1030 yuan / ton or 1.0% compared with the previous trading day. The turnover was 87647 lots, and the position increased by 1202 lots to 79822 lots. Overnight, Shanghai Nickel closed at the Zhongyin column, Shanghai Nickel bulls reduced their positions, and the bears followed up. Shanghai Nickel fell below the multiple moving average and consolidated around 102000 yuan / tonne. Today, we are concerned about whether Shanghai Nickel can stand firm at this level again.
Today, Lunni opened at 12795 US dollars / ton, and the Asian market period fluctuated narrowly around the 20-day moving average of 12800 US dollars / ton. After the close of trading in Shanghai, the center of gravity of Lunni quickly rose to around $12860 / ton, reaching as high as $12875 / ton. Around 17:40, Lunni concussion fell to the daily average of $12710 / ton and rebounded to $12800 / ton supported by the 10-day moving average. The level was consolidated until the close, and finally closed at $12805 / ton, up 35 US dollars / ton or 0.27% from the previous day's settlement price. The trading volume was 5724 lots, and the position decreased by 201 lots to 201000 lots. Lunni closed at Xiaoyangzhu yesterday, the K-column was running at the 20-day moving average, and the shadow line went down the 10-day moving average. Lunni opened at 12805 US dollars / ton today. Today, we are concerned about the pressure at the 12800 US dollars / ton pass.
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 6775 QQ: 1553928752, contact: Zhang Lingying)
(Zhang Lingying TEL:021-5166 6775 QQ: 1553928752)
Click to sign up: 2020 China International stainless Steel Industry Market and Application Development Forum
Scan the QR code, apply for participation or join the SMM metal exchange group