China's domestic stainless steel market has seen some price decreases during the past seven days, while some prices have also moved sideways.
Global nickel prices have indicated relatively significant declines during the past week. On March 3, the three-month nickel price at the London Metal Exchange (LME) closed at $13,675/mt, while LME nickel inventory on the same date totaled 430,932 mt.
The declines seen in domestic stainless steel market prices in the past week have been due to the soft trend of nickel prices and also due to the increase in supply volumes and higher inventory levels. Overall trading activity is still low as downstream industries have not yet resumed production after the recent holiday. The Chinese stainless steel market may continue to see a decreasing trend in the coming week, though with smaller decrease margins likely.
Trading activity still very low in Chinese domestic stainless steel market
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Hot Drawn Stainless Plate
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Width
1,000 - 1,500 mm
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MAIAK-M
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SAMBHV SPONGE POWER LIMITED