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 $2,750-2,800/mt ex-works. Local traders' stainless steel offers in the Turkish spot market have also remained unchanged in the same period at $2,750-2,800/mt ex-warehouse. Market sources state that demand is weak in the Turkish stainless market and is expected to remain weak for a while, because Turkish traders, who are experiencing liquidity issues approaching the end of the year, are unwilling to build up their stocks. .
On the other hand, according to market sources, prime quality ready stock 304/2B stainless steel CRC offers from Turkey to the export markets have remained unchanged over the past two weeks and are still in the range of $2,550-2,600/mt ex-works. However, prime quality ready stock 304/2B stainless steel CRC offers from China and Taiwan to Turkey have increased by $750/mt over the past week to the range of $2,450-2,500/mt CIF.
The cash and settlement nickel price at the London Metal Exchange (LME) has decreased by $630/mt since December 4, closing the day at $16,150/mt on December 11. The fluctuations recorded in nickel prices in the past week has contributed to the weakening of demand for stainless steel in the domestic market.
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