[SMM stainless Steel Futures Review] the SS2009 contract continues to show a strong uplink mode and follow up to pay attention to the pressure of 13600 yuan / ton above.

Published: Jul 8, 2020 19:19

SMM July 8, [SMM stainless steel futures review] SS2009 contract opened at 13450 yuan / ton, after opening, the overall center of gravity around the daily moving average slightly fluctuated, at about 23:00, the bulls led the increase, stainless steel contract rushed to 13680 yuan / ton, and then the shock fell back to the opening price, and finally closed at 13480 yuan / ton. Today, opening at 13480 yuan / ton, it weakened slightly after the opening, with the lower 13400 yuan / ton mark supported, and then rebounded slightly to 13500 yuan / ton first line. Finally, it closed at 13520 yuan / ton, an increase of 110yuan / ton, or 0.78%, over the settlement price of the previous day. The daily trading volume was 26126 lots, and the position increased by 3101 lots to 39373 lots. Throughout the day, the SS2009 contract closed at Xiaoyangzhu, continued to show a strong uplink mode, standing above the 5-day moving average, follow-up attention to the pressure of 13600 yuan / ton above.

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
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Feb 7, 2026 16:41
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Read More
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.
Feb 7, 2026 16:41
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Feb 7, 2026 16:40
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Read More
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.
Feb 7, 2026 16:40
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Feb 7, 2026 16:39
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Read More
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.
Feb 7, 2026 16:39