The cash and settlement nickel price at the London Metal Exchange (LME), which was at $19,210/mt on July 13, closed at $18,505/mt on July 18. Meanwhile, ex-China offers for prime quality ready stock 304/2B stainless steel CRC of 2.0 mm thickness have decreased by $200/mt compared to two weeks ago and are currently in the range of $2,900-3,000/mt CIF Turkey. Over the same period, Taiwanese stainless steel offers have decreased by $100/mt to $2,800-2,900/mt CIF Turkey.
According to market sources, demand is sluggish in the Turkish domestic stainless steel market, which has continued to be impacted by hot weather and Ramadan, while local stainless steel prices have remained unchanged at $3,100-3,200 ex-warehouse.
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