China's domestic
stainless steel market has been characterized by various price trends during the past week.
Global nickel prices have fluctuated on a downward trend during the past week. On June 17, the three-month nickel price at the London Metal Exchange (LME) closed at $19,120/mt, while LME nickel inventory on the same date totaled 286,728 mt.
The three-month nickel price at the LME first moved down during the past week, but then started to move back up, with prices closing at higher levels compared to one week ago. Fluctuations have also been witnessed in the Chinese domestic
stainless steel market, Slight rises have been seen for prices of some 304 series products due to shortages of stock, while prices of some other
stainless products have declined slightly as traders have reduced prices in order to increase sales. In addition, prices of some
stainless steel products have remained stable in the past week. The overall trading volume in the market has still not indicated any improvement, while traders are a little worried about the future prospects for the market.
With overall trading activity unlikely to improve, a slight downtrend in prices may be seen in the market in the coming week.