According to market sources, transactions for 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness from Turkey to Europe have been concluded in the range of $2,750-2,800/mt ex-works over the past week.
Additionally, demand in the local Turkish market has remained weak, while domestic quotations of locally produced stainless steel have also remained unchanged over the past month and are still at $2,800-3,100/mt ex-works.
Meanwhile, the cash and settlement nickel price at the London Metal Exchange (LME), which was at $18,433/mt on September 2, has increased significantly, closing at $19,235/mt on September 4.