Stainless Steel Prices Rise and Fall, Pay Attention to the 10-Day Moving Average Support

Disk situation: The main stainless steel 2102 contract hit a high and fell on Thursday, the highest within the day was 13,695, the lowest was 13,420, and the closing price was 13,460, down 0.48% from the closing price of the previous trading day; volume 70,310, +22,427; position 80,490, +3,131. The basis is 1090; the spread of SS02-03 is 25.

Market focus: (1) U.S. Treasury Secretary Mnuchin unexpectedly returned to the negotiating table of the rescue plan with a $916 billion proposal. Although the Democratic Party disagrees with some of the contents of the proposal, it still opens up potential for reaching an agreement before the end of the year A new way.

Spot analysis: On December 10, spot 304/2B rolls-trimmed, Wuxi quoted 14,450-14,650, average price 14,550, +50, Foshan quoted 14,500-14,800, average price 14,650, +50.

Warehouse Receipt Inventory: The stainless steel warehouse receipts totaled 11,375 tons on Thursday, with a daily reduction of 119 tons.

Main positions: The top 20 long positions of the stainless steel main 2102 contract are 62,420 hands, a decrease of 4 hands a day, a short position of 71,046 hands, a daily increase of 3,055 hands, a headroom position of 8,626 hands, a daily increase of 3,059 hands, long short positions increase, and headroom increases.

Market research and judgment: Stainless steel 2102 rose and fell on December 10. The return volume of ferronickel from upstream Indonesia continues to rise to make up for the domestic gap, which will suppress the price of ferronickel in the long term. In addition to the high domestic stainless steel production, there will be greater pressure on the stock market in the future. The market is afraid of high sentiment and restricts steel prices. can. However, recently refined nickel inventories have continued to deplete, and nickel prices on the cost side have rebounded; coupled with good transactions in the low steel price market, and the gradual recovery of overseas demand has led to an increase in exports, the recent inventory has shown a digestive state, which has strengthened support for steel prices. Technically, the stainless steel main force 2102 contract heavy volume Masukura closed the long shadow, paying attention to the 10-day moving average support, and it is expected to continue to rise slightly in the short term. In terms of operation, it is recommended to operate at 13,400-13,700 yuan/ton for light warehouses, and stop loss at 100 yuan/ton each.

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