节点：中游（冶炼、中间品）位置：中游情绪：利空参考度：9/10
宏观层面，市场对美联储流动性管控的担忧升温，强势美元处于一年来高位且动能强劲，压制整体金属市场表现；部分交易者转向滞胀至衰退的预期，进一步施压。需求端，“金三银四”不锈钢旺季需求不及预期，下游仅刚需补库，成交清淡；宏观不确定性导致期货市场偏弱震荡，难以带动现货。库存方面，社会库存虽小幅回落但仍处高位，去库进程缓慢；钢厂维持高排产，供给压力凸显，主动下调指导价以促进成交。成本端，镍铁价格回落，钢厂 ..
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