Market sources state that Turkish mills’ local offers for prime quality 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness for November production are in the range of $1,850-1,950/mt ex-works, for November deliveries. Meanwhile, Turkish traders’ stainless steel offers in the local spot market are in the range of $2,150-2,200/mt ex-warehouse, for advance payment. Market players state that demand in the Turkish domestic stainless steel market has recovered slightly in line with the end of political uncertainty after the general election held on November 1.
According to market sources, Turkish producers’ offers to the export markets for the abovementioned stainless products are at $1,850-1,900/mt ex-works. Market players state that demand for Turkish stainless steel in the export markets has been slack, with only sales of small tonnages of Turkish stainless steel being concluded to eastern Europe and the Balkans.
Meanwhile, ex-Europe stainless steel offers to Turkey for second quality 304/2B stainless steel cold rolled coil of 2.0 mm thickness are at €1,700/mt ($1,836/mt) CIF Istanbul. In addition, stainless steel offers from China and Taiwan to Turkey are in the range of $1,700-1,850/mt CIF Istanbul.
The cash and settlement nickel price at the London Metal Exchange (LME) closed the day at $9,725/mt on November 6.
€1 = $1.08