Stainless Steel: In terms of inventory, domestic pure nickel stock has risen to the highest level within the year at 33,400 tons, while stainless steel inventory remains stable at 938,000 tons. Nickel pig iron inventory has rapidly decreased to 24,000 tons, with a weekly decline of 4,000 tons.
Nickel: The Shanghai nickel market saw a pullback overnight, with active trading on the market. The London Metal Exchange (LME) ceasing the use of metals sourced from Russia led to an initial surge in nickel prices abroad. However, the domestic market's reaction was muted, focusing on changes in the raw material segment to support the bottom of nickel prices, awaiting the maturation of short-selling opportunities.
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