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SunSirs: Ferrosilicon market analysis (April 21, 2020)

April 23 2020 11:29:52     SunSirs (Molly)


Compared with the large fluctuations of silicon manganese and ferrochromium, the ferrosilicon market has been operating in a "low-key" for a long time. However, in the near future, costs may increase due to continuous information about factory shutdowns and production cuts.

Affected by the epidemic situation, the national high speed continued to be free. However, there has been news in the market recently that the expressway may resume normal tolls after May 1. And according to the holiday free policy, tolls are waived for small passenger cars under 7 seats. With today's futures performing well, the ferrosilicon market is slightly stronger, and the actual quotation is also slightly higher.

Today's main ferrosilicon futures contract rose sharply in 2009: after a large opening in early trading, a slight callback afterwards, and then all the way up the shock, running above the daily average throughout the day, the highest intraday 5746 points, the lowest 5568 points, trading volume hit a new high in 2009 contracts, open interest A significant increase from the previous trading day, and finally recorded a Dayang K line with a longer shadow. Technically, the ferrosilicon 09 contract today stood on all MA moving averages, and the MACD effective red column has been greatly enlarged. Today, it broke through the small pressure level of the 5660 line, and the 5450 line below has strong support. The short-term disk turned stronger and the actual spot market transactions were average. Operational recommendations, small position range operation.

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