Demand improves slightly in Turkish stainless steel market

Friday, 20 February 2015 17:34:20 (GMT+3)   |   Istanbul
       

Market sources state that Turkish mills' local offers for prime quality 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness for March deliveries have remained stable over the past week in the range of $2,550/mt ex-works. In the given period, Turkish traders' local stainless steel offers in the spot market have also moved sideways during the same period at approximately $2,650-2,700/mt ex-warehouse.

On the other hand, according to market sources, offers from Turkey to the export markets for the same stainless products have declined by around $50/mt week on week to $2,300-2,350/mt ex-works. Along with their usual sales of stainless steel to Poland and to the Balkans, after a long silence Turkish exporters also concluded sales to Egypt and Russia this week. 

Meanwhile, offers for prime quality 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness from China and Taiwan to the Turkish market are still in the range of $2,110-2,300/mt CIF Izmit.

The cash and settlement nickel price at the London Metal Exchange (LME) has trended downwards since February 12, decreasing by $680/mt and closing the day at $13,925/mt on February 19. With nickel prices declining below the psychological mark of $14,000/mt, expectations for a downward trend in stainless steel prices have prevailed in the global market.

Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.   


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