Global nickel prices moved on a fluctuating upward trend during the past week. On October 9, the three-month nickel price at the London Metal Exchange (LME) closed at $17,959/mt, while LME nickel inventory on the same date totaled 124,248 mt.
The trading volume in the Chinese stainless steel market has been slightly down compared to the week before the Chinese National Day holiday (October 1-7). Traders are still generally cautious. The stainless steel market in China is expected to maintain its stable trend in the coming week.