According to market sources, offers for second quality 304/2B
stainless steel from
Europe to
Turkey have increased by €250/mt ($323/mt) over the past three weeks to €2,150/mt ($2,774/mt) CIF. Market sources state that European
stainless steel offers have trended upwards due to the sharp increase in nickel prices at the beginning of September. However, nickel prices have started to fall significantly over the past week. The cash and settlement nickel price at the London Metal Exchange (LME), which was at $19,235/mt on September 4, has fallen sharply, closing at $18,460/mt on September 11.
On the other hand, demand in the local Turkish market has remained quiet over the past week. Offers for prime quality ready stock 304/2B
stainless steel CRC of 2.0 mm thickness in the local market have increased by $50/mt compared to last month and are currently in the range of $2,900-3,100/mt ex-works.
€1 = $1.29