Group 1 - Nickel prices in Shanghai experienced slight fluctuations, with the main contract closing down by 0.3% at 119,830 yuan per ton, amid increased domestic supply of nickel elements due to significant rises in imports of nickel ore, nickel iron, and refined nickel in July [1] - The price of Philippine nickel ore remained stable, with CIF prices for NI1.3% at $41-$43 per wet ton, NI1.4% at $49-$51 per wet ton, and NI1.5% at $56-$58 per wet ton, despite unfavorable shipping conditions due to rain [1] - Downstream enterprises have increased procurement as nickel prices slightly declined, with stable trading in refined nickel spot markets, while stainless steel demand remains weak despite production cuts in June and July [1] Group 2 - The current contradictions in the nickel industry are concentrated in the stainless steel market, with the cost transmission path from "stainless steel-nickel ore-primary nickel" determining the cost center for primary nickel [2] - After a recovery to around 13,000, stainless steel prices have continued to decline, leading to renewed pessimism in market sentiment, with ongoing inventory and supply pressures [2] - Future demand for stainless steel during the traditional peak season remains uncertain, with a focus on the shipping pace of leading steel mills, and nickel prices are expected to lack short-term drivers, maintaining a weak outlook overall [2]