The bottom support of nickel ore is strong, and mines and traders mostly hold prices for shipments. The rainy season in the Surigao mining area in the Philippines has been delayed, and the recovery of supply remains to be seen.

The demand in the downstream stainless steel market is weak, steel mills are cautious in purchasing, and it is difficult for them to accept high-priced raw materials in the short term.

This week, China's stainless steel market prices remained stable. As of March 26, the prices of stainless steel hot-rolled coil 304 No.1 and cold-rolled coil 304 2B both remained flat.

According to market participants, the continuous decline in futures prices affected market confidence. Therefore, most manufacturers maintained low inventories to cope with risks, adjusting their sales strategy based on the market conditions.