Stainless steel futures it is a standardized contract for stainless steel, which is mainly composed of iron and nickel.
Because if nickel fluctuates greatly, it will directly affect the price of stainless steel, which is a component and raw material for its production. Nickel is the main raw material for producing stainless steel. In the process of stainless steel production, nickel accounts for about 60% of its cost, so the prices of the two are highly correlated.