Sluggish demand in Turkish stainless steel market

Friday, 31 October 2014 15:42:19 (GMT+3)   |   Istanbul
       

Market sources state that Turkish mills' local offers for prime quality ready stock 304/2B stainless steel CRC of 2.0 mm thickness have remained unchanged over the past week in the range of $2,700-2,800/mt ex-works, for October output. The impact of upward fluctuations in nickel prices in the past week has been balanced by slack demand for stainless steel due to stocks being on the high side, a lack of transactions, and the US dollar gaining strength against the euro.
 
Meanwhile, traders' local stainless steel offers in the Turkish market have not indicated any changes since last week, while demand for their offers has been sluggish. Accordingly, domestic stainless steel CRC spot prices in the Turkish market are still hovering at $2,900-3,000/mt ex-warehouse.

The cash and settlement nickel price at the London Metal Exchange (LME), which was at $14,650/mt at the beginning of the current week, increased by $675/mt since then, closing the day at $15,325/mt on October 30.
 


Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 8, 2024

22 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 6, 2024

08 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 5, 2024

01 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 4, 2024

25 Jan | Flats and Slab

Turkey exhausts some of its EU steel import quotas

17 Jan | Steel News