From 2015 to 2016, 2017, and 2018, the driving logic of nickel prices is actually different. In 2015, it was more caused by a driving force of a nickel mine, including the difference between Indonesia and the Philippines. Policies, especially those of the Philippines, mainly determine the price of nickel. After 2016 and 2017, it actually experienced a change in the stainless steel industry chain, which means that the supply and demand of stainless steel determines the price of nickel. In the first half of 2017,