Demand in the local Turkish stainless steel market is currently at medium levels. Due to the uptrend of nickel prices starting as of the beginning of October, Turkish mills’ local offers for prime quality 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness have increased to the range of $2,300-2,350/mt ex-works, compared to the beginning of the month, while spot prices of the same product are at $2,400-2,500/mt ex-warehouse, both for October production.
Besides, Turkish producers’ quotations for 430/2B stainless steel CRC of 2.0 mm thickness stand at the range of $1,400/mt ex-works for October production.
Turkish producers’ 304/2B stainless steel CRC offers to the export markets are currently at $2,150-2,250/mt ex-works. Meanwhile, since buyers in Turkish producers’ target markets are back from summer holidays transaction activity in the stainless steel export markets has improved.
On the other hand, ex-Europe stainless steel offers to Turkey for 304/2B stainless steel CRC of 2.0 mm thickness stand at $2,000-2,100/mt CIF Istanbul, In addition, stainless steel offers from Far Eastern countries to Turkey for 304/2B stainless steel CRC are at $1,900-2,250/mt CIF Istanbul, while offers for 430/2B stainless steel CRC are currently at $1,300/mt CIF Istanbul.