China's domestic
stainless steel market has been mostly stable in the past week, with just slight downticks for some 304 series products.
Global nickel prices have seen minor decreases in the past week. On July 30, the three-month nickel price at the London Metal Exchange (LME) closed at $18,800/mt, while LME nickel inventory on the same date totaled 314,400 mt.
Chinese domestic
stainless steel prices have not been influenced by the soft trend of nickel prices, but instead have mostly followed a stable trend in the past week. Most traders have kept their prices unchanged as any reductions are unlikely to result in any improvement in the low demand situation. Domestic
stainless steel prices in
China are expected to continue their mainly sideways trend in the week ahead.