It is observed that demand in the local Turkish stainless steel market has remained at low levels over the past week. Market sources state that buyers have maintained their wait-and-see stance amid the losses they have faced resulting from the fluctuating trend of the Turkish lira-US dollar exchange rate and the lack of any improvement in economic conditions. On the other hand, Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel CRC are still at $2,400-2,500/mt ex-works, while their prices of 430 grade 2B stainless steel CRC are at $1,400-1,500/mt ex-works, both indicating sideways movement as compared to the levels in SteelOrbis’ report published last week.
Additionally, on December 6, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $10,855/mt.