After the Labor holiday, China's stainless steel futures market witnessed an immediate uptick on May 6th. The optimistic market sentiment contributed to stability in the spot market. Supported by raw material costs, analysts anticipate short-term volatility and strength in the market.

Macroeconomic benefits in China, coupled with the trade-in policy and favorable long-term consumption data, have bolstered futures commodities. Consequently, market inquiries surged, leading to fluctuating transactions and overall optimism. However, terminal purchases remain cautious, with traders mostly offering stable quotations.

Tight nickel ore supply in Indonesia, coupled with previous increases in ferronickel prices, alongside higher nickel prices and raw material costs, are expected to sustain a strong and volatile trend in the stainless steel market in the short term.