SMM, July 23rd,
[SMM stainless Steel Review]
SS2009 contract night trading opened at 13505 yuan / ton, after the opening, the bulls reduced positions dominated, the downside fell below the 13400 yuan / ton mark, and then the overall center of gravity fluctuated slightly around the daily moving average of 13410 yuan / ton. It finally closed at 13360 yuan / ton. During the day, it opened at 13365 yuan / ton. At the beginning of the session, it was supported by the 20-day moving average and fluctuated in the 13367-13415 yuan / ton range as a whole. At about 11:00, the short position reduction dominated, the stainless steel contract concussion upstream broke the 13500 yuan / ton mark, above the pressure 5 / 10 moving average. Finally, it closed at 13470 yuan / ton, down 130 yuan / ton, or 0.96%, compared with the settlement price of the previous day. The whole day's trading volume was 24128 lots, and the position decreased by 6423 lots to 32110 lots.
Throughout the day, the SS2009 contract closed at the long lower shadow line, the shadow line explored the 20-day moving average, and the K-column as a whole stood at the 5 / 10-day moving average. After entering the European period, Lunni rose a lot, close to 13500 yuan / ton, and paid attention to the impact of Lunni's increase on the contract between Shanghai nickel and stainless steel in the evening.
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