Over the past week, demand in the local Turkish stainless steel market has remained slack. Market sources state that Turkish buyers are cautious given the uncertainty of the economic situation of the country and so are making bookings only to meet their immediate needs. Meanwhile, Turkish stainless steel producers are focusing on export sales.
Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel CRC are still at $2,600-2,700/mt ex-works, while their prices of 430 grade 2B stainless steel CRC are at $1,600-1,700/mt ex-works, both indicating sideways movement as compared to the levels in SteelOrbis’ report published last week.
Meanwhile, on October 18, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $12,140/mt.