Global nickel prices have fluctuated on a slight downward trend in the past week. On February 29, the three-month nickel price at the London Metal Exchange (LME) closed at $20,000/mt, while LME nickel inventory on the same date totaled 98,466 mt.
The Chinese domestic stainless steel market has generally remained stable in the past week, though some traders have reduced prices slightly in order to attract demand. Meanwhile, the trading volume has not yet indicated an improvement. The trend of China's stainless steel market in the coming period will be decided by the strength or otherwise of downstream demand.