Global nickel prices have maintained their upward trend during the past week. On September 18, the three-month nickel price at the London Metal Exchange (LME) closed at $17,700/mt, while LME nickel inventory on the same date totaled 119,982 mt.
Although the domestic stainless steel market is following an upward trend, some traders indicate that the current trade volumes are only about 70 percent of normal levels. Meanwhile, market players state that, while the stainless market may continue to rise in the days ahead, new supplies are due to arrive in the market and these may restrict the upward movement of prices.