US stock market generally dropped because investors doubted whether Europe can control debt crisis or not. At the same time, Euro exchange rate hit a record low. Greece received the first assistant 14.5billion Euro yesterday, which will relieve the pessimism on the market. Pulled by economic data announced before, European stock market moved up for the first time within this week.

Statistic announced yesterday shows that stainless steel production in the first quarter increased 11.5%, but the price kept dropping recently, so some stainless mill should limit its production. National Development and Reform Commission announced the message to limit overcapacity, which will influence domestic market demand.

Yesterday, baser price rebounded from the low price on Monday, and closed at 21475US dollar/ton. Which was 1445US dollars higher. While it’s said that the decline trend of baser has not ended, according analysis. Domestic nickel price was 166500yuan/ton yesterday, because Jinchuan Group reduced its factory price. It’s estimated that domestic spot nickel price will rise, but the market situation is not optimistic.