During the week ending July 21, cash and settlement nickel price at the London Metal Exchange (LME) have increased by $225/mt to $18,725/mt and continued its uptrend over the past week closing the day at $19.080/mt on July 24.
Despite the rise in nickel prices, ex-China offers for prime quality ready stock 304/2B stainless steel CRC of 2.0 mm thickness are still at $2,900-3,000/mt CIF Turkey, while ex-Taiwan offers are at $2,800-2,900/mt CIF Turkey , both indicating no change over the past week.
Market sources state that stainless steel quotations have trended sideways due to lackluster demand in both domestic and export markets, even though nickel prices have risen.
On the other hand, stainless steel prices in the Turkish domestic market have also remained unchanged at $3,100-3,200/mt ex-mill over the past week.
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.