China's domestic stainless steel market has indicated stable movement in the past seven days.
Global nickel prices have continued their fluctuating trend in the past week, with prices now lower compared to one week ago. On February 10, the three-month nickel price at the London Metal Exchange (LME) closed at $14,805/mt, while LME nickel inventory on the same date totaled 426,090 mt.
Activity in the domestic stainless steel market is currently very quiet ahead of the Spring Festival holiday (Feb. 18-24). Most traders have started their holiday already, though some traders are still in the market trying to sell as much stock as possible. As for the coming week, the Chinese stainless steel market is expected to continue its sideways movement.