China's domestic stainless steel prices edge up on strong nickel market

China's domestic stainless steel prices narrowed upward in the past week on nickel gains.

The three-month nickel contract on the London Metal Exchange ended Wednesday October 21's official trading session at $16,101 per tonne, up by $949 per tonne (6.3%) from $15,152 per tonne a week earlier.
Higher nickel pig iron prices also gave additional support to the stainless steel market.
Fastmarkets' weekly price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,180-1,200 yuan per nickel unit last Friday, up by 10-20 yuan per nickel unit from a week earlier.
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