Global nickel prices have fluctuated on an upward trend during the past week. On May 4, the three-month nickel price at the London Metal Exchange (LME) closed at $9,520/mt, while LME nickel inventory on the same date totaled 417,504 mt.
China’s domestic stainless steel market has indicated a stable trend during the past week following the price increases seen in the previous weeks. Overall trading activity is now slack, having weakened amid the higher price levels. Traders are willing to offer certain discounts, but most traders have not yet reduced their quoted prices, but prefer to maintain a wait-and-see stance. It is believed that some slight decreases may be seen in domestic stainless steel prices in the coming week.
| Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| 202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 10,300 | 1,582 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 6,800 | 1,045 | 0 |
| 304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 13,400 | 2,058 | 0 |
| 304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 13,150 | 2,020 | 0 |
| 430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 7,250 | 1,114 | 0 |
| 430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,100 | 937 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.51