Minor fluctuations in price levels have been observed in China's domestic stainless steel market in the past week.
Global nickel prices have moved on a fluctuating trend during the given week. On April 29, the three-month nickel price at the London Metal Exchange (LME) closed at $18,300/mt, while LME nickel inventory on the same date totaled 277,056 mt.
The LME three-month nickel price is down slightly compared to one week ago. In the past week, prices of 304 series stainless steel products in the Chinese domestic market have declined slightly, while prices of 430 series have indicated minor increases. Trading activity in the market has slackened a little due to the Labor Day holiday and due to the relatively high price levels in the market. Nevertheless, some traders are optimistic on the future prospects for the market. For the coming week, it is thought that China's domestic stainless steel market may mostly follow a stable trend, with some slight upticks possible also.