Buyers purchase in line with needs in Turkish stainless steel market

Friday, 22 August 2014 18:06:34 (GMT+3)   |   Istanbul
       

SteelOrbis has been informed that buyers in the local Turkish stainless steel market have been purchasing in line with their needs due to ongoing tightness of liquidity and thus stainless steel prices have trended sideways. Market sources report that ex-Europe offers to Turkey for second quality 304/2B stainless steel have remained unchanged since last month at €1,800-1,900/mt ($2,394-2,527/mt) CIF, and that the price trend will gain clarity with the end of the summer holiday in the region.
 
The cash and settlement nickel price at the London Metal Exchange (LME), which was at $18,280/mt at the beginning of August, has indicated slight fluctuations during the month and closed at $18,730/mt on August 21.
 
Additionally, in the local Turkish market offers for prime quality ready stock 304/2B stainless steel CRC of 2.0 mm thickness have also remained unchanged and are still at $2,800-3,100/mt ex-works.
 
€1 = $1.33

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