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 February production are in the range of $1,950-2,000/mt ex-works. While demand for domestic stainless steel is weak in Turkey, buyers prefer to conclude deals only to meet their immediate needs.
According to market sources, Turkish producers’ offers to the export markets for the abovementioned stainless products are at $1,800-1,850/mt ex-works. Market players state that demand for Turkish stainless steel is also slack in export markets.
Meanwhile, ex-Europe stainless steel offers to Turkey for second quality 304/2B stainless steel cold rolled coil of 2.0 mm thickness are at $1,800-1,850/mt CIF Istanbul. In addition, stainless steel offers from China and Taiwan to Turkey for prime quality are in the range of $1,700-1,750/mt CIF Istanbul.
The cash and settlement nickel price at the London Metal Exchange (LME) closed the day at $8,450/mt on February 3.