Market sources state that Turkish mills’ local offers for prime quality 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness are in the range of $1,950-2,000/mt, while their quotations for 430/2B stainless steel CRC of 2.0 mm thickness are at $1,200-1,250/mt, both ex-works and for February production. Demand for domestic stainless steel is still weak in Turkey, with buyers preferring to conclude deals only to meet their immediate needs.
According to market sources, Turkish producers’ offers to the export markets for 304/2B stainless steel CRC of 2.0 mm thickness are at $1,800-1,850/mt ex-works, while demand for Turkish stainless steel is also slack in the export markets. Meanwhile, Turkish producers’ offers to the export markets for 430/2B stainless steel CRC are at $1,200/mt ex-works, for February production.
Meanwhile, ex-Europe stainless steel offers to Turkey for 304/2B stainless steel CRC of 2.0 mm thickness are at $1,800-1,850/mt CIF Istanbul, while European stainless steel offers for 430/2B stainless steel CRC are at $900-1,000/mt CIF Istanbul. In addition, stainless steel offers from China and Taiwan to Turkey for 304/2B stainless steel CRC have decreased by $50/mt week on week to the range of $1,650-1,700/mt CIF Istanbul, while offers for 430/2B stainless steel CRC have declined by $50/mt week on week to $1,050/mt CIF Istanbul.
The cash and settlement nickel price at the London Metal Exchange (LME) closed the day at $8,120/mt on February 16.