China's domestic stainless steel market has indicated a stable movement during the past seven days.
Global nickel prices have fluctuated at low levels during the past week, with prices now slightly higher than one week ago. On April 7, the three-month nickel price at the London Metal Exchange (LME) closed at $12,550/mt, while LME nickel inventory on the same date totaled 431,970 mt.
Overall trading activity in the local Chinese stainless steel market has remained slack, while supply volumes and stock levels are also low. With trading volumes unlikely to increase and given the low levels of nickel prices, it is thought that the domestic stainless steel market will just indicate minor fluctuations or move on a stable trend in the week ahead.