In the meantime, stainless steel suppliers' offers from Europe and the Far East to Turkey for 304/2B stainless steel cold rolled coil (CRC) of 2 mm thickness are currently standing at about $2,800-2,950/mt CFR. Taking the current unfavorable market conditions in account, Turkish market players find mills' offers for orders too high and instead they prefer to buy ready stocks or second grade materials from European and Far Eastern traders and stockists at price levels of $2,650-2,800/mt CFR. Meanwhile, local traders' offers for the same products are standing at $3,100-3,200/mt ex-warehouse. The Turkish domestic market will likely experience a quiet period in late October due to the Feast of Sacrifice holiday, but there are expectations that in November the market will be more active in terms of stainless steel demand.
In the meantime, after reaching $18,000/mt in the first week of October, world nickel prices have decreased slightly this week. On October 11, nickel prices for cash settlements in the London Metal Exchange (LME) closed the day at $17,645/mt.