ASG, 22 November:

SS2002, the main contract for stainless steel futures, opened at 14490 yuan / ton in early trading this morning. At the beginning of the day, short positions increased pressure, SS pressure daily average shock fell, bottomed 14315 yuan / ton after the return, short reduction left the main SS center of gravity fluctuated around the daily average line and continued to the afternoon, the amplitude of 70 yuan / ton, closed at 14530 yuan / ton. Compared with the previous settlement day, it was up 195 yuan / ton, an increase of 1.36%. The whole day deal 17356 hands, minus 768 hands, hold 18920 hands, minus 1238 hands, close in the positive line. Daily line technology KDJ opening up, SS bottom by the 5-day moving average support, the center of gravity rose, because a large steel factory in East China began to overhaul and reduce production by 300 series yesterday, short-term confidence is not enough to reduce positions, or to form a certain support to the disk, short-term prices effectively stop falling. But the overall fundamentals look at the current oversupply pattern will not change, pay attention to whether the future bulls have the confidence to catch up.