Global nickel prices have been moving on a fluctuating trend in the past week and are down slightly compared to one week ago. On November 11, the three-month nickel price at the London Metal Exchange (LME) closed at $15,425/mt, while LME nickel inventory on the same date totaled 388,896 mt.
In China's domestic stainless steel market, overall trading activity has remained slack in the past week, though low inventory levels have provided some degree of support for prices. It is believed that nickel prices will continue to fluctuate within a narrow range in the coming week, and that domestic stainless steel prices in China will accordingly remain mostly stable, with some small downticks also possible.