Over the past week, demand in the local Turkish stainless steel market has remained slack since buyers have postponed their bookings and have preferred to monitor the global market due to the high volatility of Turkish lira-US dollar currency rate and approach of the Feast of Sacrifice holiday - which will last a full week starting from August 20. Meanwhile, Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel cold rolled coil (CRC) are 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.
Meanwhile, on August 16, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $13,115/mt.