Market sources state that Turkish mills' local offers for prime quality ready stock 304/2B stainless steel CRC of 2.0 mm thickness have remained unchanged over the past week in the range of $2,700-2,800/mt ex-works, for delivery in December. Turkish traders' local stainless steel offers in the Turkish spot market have not indicated any changes in the same period and are still hovering at $2,900-3,000/mt ex-warehouse, while Turkish traders, who are experiencing liquidity issues approaching the end of the year, are primarily focused on reducing their stocks. Despite the improvement in nickel prices in the past week, domestic stainless steel prices have remained stable, though demand has improved slightly.
On the other hand, according to market sources, prime quality ready stock 304/2B stainless steel CRC offers from Turkey to the export markets are in the range of $2,550-2,600/mt ex-works. Meanwhile, prime quality ready stock 304/2B stainless steel CRC offers from Europe to Turkey are higher than Turkish offers and are currently at $2,700-2,750/mt ex-works for December deliveries.
The cash and settlement nickel price at the London Metal Exchange (LME) has improved slightly over the past week, declining by $855/mt since November13, closing the day at $16,175/mt on November 20.
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