China's domestic
stainless steel market has remained stable during the past week.
Global nickel prices have continued their upward trend in the past seven days. On January 21, the three-month nickel price at the London Metal Exchange (LME) closed at $14,630/mt, while LME nickel inventory on the same date totaled 260,832 mt.
Influenced by Indonesia's ban on nickel exports, the LME three-month nickel price has maintained its uptrend during the past week. However, after last week's slight rebound, domestic
stainless steel prices have been moving on a sideways trend. While sentiment among traders has improved and some are now more inclined to build up stocks, the actual trading volume has not increased in the past week due to the influence of the approaching holiday. For the coming week, Chinese domestic
stainless steel prices are expected to continue to follow their stable trend, while the trading volume is likely to remain at low levels.