Trading activity in the local Turkish stainless steel market has decreased further over the past week. Market sources state that buyers are concerned particularly due to the high volatility of the Turkish lira-US dollar exchange rate, and so they are only monitoring the market for now.
Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel CRC are still at $2,600-2,700/mt ex-works, while their prices of 430 grade 2B stainless steel CRC are at $1,600-1,700/mt ex-works, both indicating sideways movement as compared to the levels in SteelOrbis’ report published last week.
Meanwhile, on October 11, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $12,420/mt.