China's domestic
stainless steel market has mostly moved sideways in the past week, though slight decreases have been seen for 304 series product prices.
Global nickel prices have continued their fluctuating trend, with prices just slightly higher now compared to one week earlier. On January 27, the three-month nickel price at the London Metal Exchange (LME) closed at $14,800/mt, while LME nickel inventory on the same date totaled 424,110 mt.
The local Chinese
stainless steel market is still suffering from low demand, while most traders are under pressure from tight liquidity due to the approach of the Chinese New Year holiday. For now, traders are not planning to build up their stocks. As for the coming week, it is believed that domestic
stainless steel prices will just indicate minor fluctuations.