Prices in the Chinese domestic
stainless steel market have either increased slightly or remained unchanged compared to one week ago.
Global nickel prices have continued to fluctuate on an upward trend during the past week. On March 11, the three-month nickel price at the London Metal Exchange (LME) closed at $15,670mt, while LME nickel inventory on the same date totaled 270,714 mt.
Under the influence of the increases in nickel prices, the Chinese domestic
stainless steel market witnessed upward price movement for some grades, in particular 304 series, at the start of the past week, though the prices in question subsequently softened slightly due to a lack of support from the demand side. Prices of other
stainless grades followed a stable trend in the past week. With the spring coming, demand is expected to improve gradually. For the coming week, it is thought that Chinese domestic
stainless steel prices may move sideways or indicate minor increases.