China's domestic stainless steel market has seen slight decreases for 304 series product prices in the past week, though prices of other stainless steel products have moved sideways.
Global nickel prices have fluctuated on a downward trend during the past week. On December 16, the three-month nickel price at the London Metal Exchange (LME) closed at $16,250/mt, while LME nickel inventory on the same date totaled 405,174 mt.
The soft trend of nickel prices contributed to the minor decreases observed in local Chinese 304 series product prices in the past seven days. Overall trading activity in the domestic stainless steel market is weak and has continued to slacken further amid the cold weather conditions. It is believed that nickel prices may continue to follow their weak trend and that, accordingly, some slight decreases will continue to be seen in the Chinese domestic stainless steel market in the coming week.
Slack activity in local Chinese stainless steel market amid cold weather
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