Stainless steel mills push up their prices during December

The increasing trend nickel prices had registered in late November-early December allowed stainless steel mills to raise their prices for shipments in December and January. However, stainless steel prices have followed a sideways trend this week, as nickel prices have recorded a declining movement during the past week.  As of December 28, nickel prices for cash settlements at the London Metal Exchange (LME), which have indicated decreases since last week, closed the day at $17,230/mt.
 
After Chinese stainless mills revised their prices upwards in previous weeks, Taiwan-based YUSCO has this week also pushed up its domestic and export stainless steel offers.
 
Meanwhile, Far Eastern origin offers to Turkey for 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness are at the range of $2,700-2,750/mt CFR, while European mills' offers to Turkey for the same products stand at $2,800-2,850/mt CFR. Turkish buyers prefer to buy Taiwanese or South Korean production materials, while they also prefer ex-Europe products from ready stocks at less expensive prices and shorter lead times. European suppliers' offers to Turkey from ready stocks for second grade materials or for surplus materials can be found at $2,650-2,700/mt CFR.