China's domestic
stainless steel market remains stable during the past week.
Global nickel prices have decreased slightly as compared to last week. On August 5, the three-month nickel price at the London Metal Exchange (LME) closed at $18,500/mt, while LME nickel inventory on the same date totaled 317,544 mt.
LME three month nickel prices have showed a fluctuating trend during past week. Chinese domestic
stainless steel market prices have remained stable. Market sources believe that the slight fluctuations in nickel prices will not change in the short term so the domestic
stainless steel prices will not have large margin fluctuations as well. Meanwhile the demand has improved slightly but still in a low level. Traders are still in caution. Therefore, domestic
stainless steel prices will likely hold a mostly stable trend during next week.