Group 1 - The nickel market showed some recovery after a significant drop, with London nickel trading around $15,250 per ton and Shanghai nickel main contract closing down by 200 to 121,310 yuan per ton [1] - Stainless steel futures also experienced a decline, with the main contract down by 40 to 12,850 yuan per ton, indicating a mixed market sentiment despite the overall downward trend [1] - The price range for 304 cold-rolled resources in the private sector is reported between 12,700-12,900 yuan, while hot-rolled large plate resources are around 12,600-12,650 yuan, reflecting a chaotic pricing environment with limited actual transactions [1] Group 2 - The market for cold and hot rolled products is stabilizing at lower levels, with slight fluctuations in pricing, and agents are maintaining a firm stance on pricing [2] - The trading environment remains challenging, with limited transactions and a focus on high-quality pricing, indicating a cautious approach from market participants [1][2]

Core Viewpoint - The current market for nickel and stainless steel shows mixed signals, with nickel prices fluctuating and stainless steel prices remaining high despite limited demand [3][4][5]. Nickel Market Summary - As of 15:00 today, nickel is trading around $15,150 per ton, while the Shanghai nickel main contract closed down by 170 to 121,180 yuan per ton [3]. - The stainless steel futures main contract increased by 25 to 12,985 yuan per ton, indicating a potential upward trend [3]. - The market is experiencing narrow fluctuations, with a focus on whether the prices can stabilize above the 13,000 yuan mark [3]. Stainless Steel Market Summary - The mainstream price for 304 cold-rolled resources in the market is reported between 12,700 and 12,900 yuan per ton, while hot-rolled resources are around 12,450 to 12,500 yuan per ton [3]. - The market atmosphere in East China is becoming subdued, while South China is following the trend of high prices, although demand remains limited [3]. - The overall sentiment in the rolled steel market is strong, with expectations of continued price stability unless significant changes occur [5]. Trade and Pricing Dynamics - Cold-rolled resources are maintaining high prices, with J1 resources reported between 7,300 and 7,800 yuan per ton, and J2 and J5 resources around 7,000 to 7,100 yuan per ton [4]. - There is a reduction in low-priced resources, and some high-priced resources have a narrow flexible space of 20-30 yuan [4]. - The pricing remains elevated, indicating a strong market position [4].