Domestically, the macro data in April are weak, but our economy is still resilient. In the spot market, the price of electrolytic nickel rose slightly, while the downstream stainless steel mills continued to bid, making the market price rise slightly and the price of nickel and iron temporarily stable. Generally speaking, although steel mills are firm in price at present, there are still worries about the high stock level, and the macro uncertainty is still strong. Recent suggestions are mainly on the wait-and-see side.