Global nickel prices have rebounded during the past week. On March 14, the three-month nickel price at the London Metal Exchange (LME) closed at $19,455/mt, while LME nickel inventory on the same date totaled 96,726 mt.
While stainless steel prices in China witnessed a decline last Friday, they have been following a stable trend in the current week. Due to rising costs, many stainless steel mills in China plan to raise their quotations, though other producers are less optimistic and have even cut production in order to reduce losses, and this has resulted in some supply shortages. Traders state that demand has started to indicate some improvement, with strong demand reported in the Wuxi market. Against this background, it is thought that the Chinese stainless steel market may see a rebound in the coming period.