Market sources state that Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel cold rolled coil (CRC) are still at $2,700-2,800/mt ex-works, while prices of 430 grade 2B stainless steel CRC are standing at $1,650-1,750/mt ex-works. The fall in global nickel quotations over the past week to a more decent level has been influential on the sideways movement of the local Turkish stainless steel market. On the other hand, demand in the local Turkish stainless steel market is still at good levels.
Having moved up rapidly last week, global cash nickel prices have decreased again week on week and on April 26, cash nickel prices at the London Metal Exchange (LME) closed the day at $13,945/mt.