Over the past week, Turkish stainless steel producers have increased their prices of 2 mm 304 grade 2B stainless steel cold rolled coil (CRC) by $50/mt to $2,700-2,800/mt ex-works, since global nickel prices have maintained their strong levels for a long time now and with the support of decent demand. Meanwhile, prices of 2 mm 430 grade 2B stainless steel CRC are have remained unchanged at $1,650-1,750/mt ex-works.
According to market sources, buyers in the local Turkish stainless steel market have accepted the recent prices increases and continue to make purchases.
On March 8, cash nickel prices at the London Metal Exchange (LME) closed the day at $13,250/mt.