Demand still weak in local Turkish stainless steel market

Friday, 27 July 2018 17:05:00 (GMT+3)   |   Istanbul
       

It is observed that demand in the local Turkish stainless steel market has remained weak over the past seven days, while Turkish stainless steel producers have maintained their prices stable. Accordingly, 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.

On the other hand, the volatility of the Turkish lira-US dollar exchange rate has increased due to the decision of the Turkish Central Bank on July 24 to keep interest rates stable, which failed to meet expectations in the markets. As a result, buyers have postponed their stainless steel purchases.

Meanwhile, on July 26, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $13,575/mt.


Similar articles

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 8, 2024

22 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 6, 2024

08 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 5, 2024

01 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 4, 2024

25 Jan | Flats and Slab

Turkey exhausts some of its EU steel import quotas

17 Jan | Steel News

Flat steel prices in local Taiwanese market - week 2, 2024

11 Jan | Flats and Slab