[Nickel Alloy and Special Steel Market Dynamics in the Half-Month After the Holiday: Comprehensive Analysis of the Cost Side, Demand Side, and Supply Side] Recently, nickel prices have been continuously declining due to the combined influence of macro and micro factors. Nevertheless, the demand for nickel alloys in high-end sectors has remained steadily growing, while demand in the new energy sector is expected to see some marginal improvement in Q3, which may drive an increase in nickel alloy demand. Moving forward, close attention should be paid to the implementation of domestic and international policies to address potential market risks.