China's domestic
stainless steel market has seen slight decreases in prices of some products in the past week, while prices of other products have remained unchanged.
Global nickel prices have fluctuated on a downward trend during the past week. On October 14, the three-month nickel price at the London Metal Exchange (LME) closed at $16,270/mt, while LME nickel inventory on the same date totaled 373,110mt.
Chinese domestic
stainless steel has witnessed some minor downticks in prices of some products, especially 304 series products, in the past seven days influenced by the soft trend of nickel prices. Also, considering the weakness of demand after the National Day Holiday, many traders have chosen to reduce their prices in order to attract customers. However, with the decreases in nickel prices, the downstream side is maintaining a wait-and-see stance for now and so trading activity has not shown the expected improvement. For the coming week, it is thought that the domestic
stainless steel market may see some further slight declines.