In the past week, the metal markets were negatively affected by the negative global economic news. The nickel price at the London Metal Exchange (LME) decreased from $22,300/mt to $21,380/mt, a drop of nearly $1,000/mt in a few days. At the same time, LME nickel stocks rose by 705 mt week on week, rising from 102,576 mt to 103,272 mt.
The nickel price from China-based Jinchuan Group stands at $25,861/mt in the market, while imported nickel in China is offered at $25,805/mt.
Prices of 200 and 400 series stainless steel in China are unchanged week on week, while domestic 300 series stainless steel prices have risen in the week in question. 304/2B and 304/No.1 from Baoxin are reported at $3,646/mt and $3,834/mt, increasing by $78/mt and $157/mt respectively.