China's domestic stainless steel market has followed a stable trend on February 25, the first day after the Spring Festival holiday.
Global nickel prices fluctuated on a slight downtrend during the holiday period. On February 24, the three-month nickel price at the London Metal Exchange (LME) closed at $14,350/mt, while LME nickel inventory on the same date totaled 424,548 mt.
On the first trading day after the holiday, most stainless steel traders have not returned to the market yet, while those in the market have been maintaining a wait-and-see stance. Overall trading activity is still very slow. As traders try to attract customers, domestic stainless steel prices may soften slightly in the coming week, also due to the influence of the minor downticks seen in nickel prices.