It is observed that demand in the local Turkish stainless steel market has failed to improve over the past week and is still slack. Buyers are monitoring the local Turkish stainless steel market as they continue to make purchases only in line with their needs due to fluctuating global nickel prices as well as the sharp ups and downs recorded in the Turkish lira-US dollar exchange rate. Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel cold rolled coil (CRC) are at $2,700-2,800/mt ex-works, while prices of 430 grade 2B stainless steel CRC are at $1,700-1,800/mt ex-works, both indicating sideways movement week on week.
Meanwhile, on July 12, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $14,055/mt.