LME nickel price trend was positive last week. Although there were shocks during the period, the price range is above US$19,500/ton, higher than the price trend in August. The nickel price was still high last Friday, encouraging the original wait-and-see buying to enter the market.

The LME nickel price broke through US$20,000/ton last week, encouraging stainless steel domestic and foreign sales buying willingness from passive to active.

Although the demand is still weak and last week's single volume was small, steel mills will not miss the opportunity to continue to raise prices. They are careful to sell existing inventories. However, because downstream buyers still have low-priced inventory, so that the overall market cannot be pulled up in a single wave, while it is good to see the price is no longer falling.