China's domestic
stainless steel market has mostly moved on a stable trend in the past seven days, though with slight price decreases seen for some products.
Global nickel prices have followed a fluctuating trend during the past week, with prices down slightly compared to one week earlier. On December 2, the three-month nickel price at the London Metal Exchange (LME) closed at $16,345/mt, while LME nickel inventory on the same date totaled 405,570 mt.
The slight decrease in nickel prices has contributed to the minor downticks seen in some Chinese domestic
stainless steel prices in the past week, though most domestic
stainless steel prices have moved sideways. Overall trading activity in the domestic
stainless steel market is still sluggish. Most traders are willing to negotiate on prices in the transaction phase as they are trying to increase their sales volumes. As for the coming week, prices in the Chinese domestic
stainless steel market are expected to continue their mainly sideways trend.