China's domestic
stainless steel market has mostly followed a stable trend during the past week, though with some slight upticks also seen.
Global nickel prices have been fluctuating on an upward trend. On August 13, the three-month nickel price at the London Metal Exchange (LME) closed at $18,675/mt, while LME nickel inventory on the same date totaled 320,448 mt.
Under the influence of the rise in nickel prices, some upticks have been witnessed in prices of 304 series products the Chinese domestic market in the past week, while most product prices have moved sideways. Market sources indicate that, while overall trading activity is still not as good as expected, demand has started to improve and traders are now more inclined to increase their quotations. It is believed that, with the weather getting cooler, the off-season for the domestic
stainless steel market will soon come to an end and overall trading activity is expected to improve gradually. For the coming week, it is thought that domestic
stainless steel prices will be mostly stable, while some minor increases will also likely be seen.