The macro emotional impact has led to a significant drop in the futures prices of Shanghai nickel and SUS304 steel sheets, and the spot market prices have generally declined. Although some steel mills are still offering flat prices in an attempt to stabilize market confidence, the pattern of oversupply is difficult to change, and the logic of cost support is "malfunctioning". Price raising operations face significant resistance, and downward pressure on prices remains unabated. Subsequently, the SUS304 steel sheet futures market continued to fluctuate downwards, coupled with the cancellation of agency price limits by steel mills. In order to promote transactions, many market merchants lowered the spot prices of SUS304 steel sheets for cold and hot rolling.