The main reason is that due to the depression of the international economic environment, the start of large-scale heavy chemical plants has dropped sharply, and the demand for stainless steel has dropped sharply.

The export volume of stainless steel materials has been greatly impacted, and the supply of domestic stainless steel products exceeds demand.

In addition, the continuous decline of capital, nickel and other bulk futures has made the price of stainless steel worse, leading to a pattern of falling but not rising.

Bottom line: Demand drops, nickel price drops, and scrap price drops step by step.