Global nickel prices have seen slight downward fluctuations during the past week. On April 12, the three-month nickel price at the London Metal Exchange (LME) closed at $18,260/mt, while LME nickel inventory on the same date totaled 98,442 mt.
In the past week, stainless steel prices in China have registered some upward movement, especially towards the end of the week. The trade volume was at normal levels after the Qingming Festival. The downward trend on the LME had given expectations of lower domestic stainless prices, until a significant increase was seen in stainless prices last Friday. This increase spurred more purchase activity in the domestic market. Demand for stainless seems to be improving and the mills are providing support for prices by restricting production volumes.