Shanghai nickel night session closes up 2.93%, stainless steel gains 2.11%

The nickel-led rally in Shanghai's night session stands out less for its size than for the divergence it reveals: nickel and stainless steel, its main downstream demand driver, moving together while copper and alumina slip. That split suggests the move is concentrated in the nickel chain rather than a broad base-metals bid, which makes the stainless steel follow-through the more telling signal. Alumina's decline alongside gains elsewhere adds to the uneven picture. Whether nickel's strength holds without copper confirming is the open question.