In 2022, raw material problems, spot price differences, and sluggish demand put pressure on the entire Chinese stainless steel industry as a whole.

At present, Tsingshan's electrodeposited nickel project has been officially put into production. If Tsingshan’s plan is successful and domestic companies take similar actions, the global output of refined nickel will increase by about one-fifth.

In the short term, as the Spring Festival holiday approaches, the stainless steel spot market will tend to be more and more stable.