Global nickel prices have fluctuated in an upward direction during the past week. On March 10, the three-month nickel price at the London Metal Exchange (LME) closed at $14,200/mt, while LME nickel inventory on the same date totaled 432,900 mt.
Domestic stainless steel prices in China have just indicated some slight decreases for 200 series products in the past week, though mainly remaining stable. Trading activity has started to improve but is still considered to be on the sluggish side. Traders' inventories are at high levels and so they are willing to give some discounts in order to attract business. As for the coming week, it is believed that the upward movement of nickel prices is unlikely to be reflected in domestic stainless steel product prices due to the sluggishness of demand and so the stainless steel market in China will likely move on a sideways trend.