Stainless steel continued its weakness overnight, closing down
Stainless steel continued its weakness overnight, closing down 1.62% to 16360 yuan / ton. There is some support on the cost side of stainless steel. Near the end of the year, downstream consumption is expected to weaken. In November, the production schedule of steel mills continues to maintain a high level. The pressure on stainless steel is relatively high, and it is obviously driven by nickel prices in the short term.
Shanghai Nickel continued to fall overnight, closing down 1.60% to 197800 yuan / ton. At present, LME continues to de-stock and is in a historical position, and domestic nickel imports continue to suffer losses, resulting in the risk of nickel price fluctuations under low inventory, and Lun Ni fluctuates continuously.Short-term macro and news have a greater impact on the nickel price trend.
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