Local Turkish stainless steel prices remain stable

Thursday, 08 August 2019 17:06:51 (GMT+3)   |   Istanbul

This week, Turkish stainless steel producers have kept their domestic prices stable for 2-6 mm 304 grade 2B stainless steel cold rolled coil (CRC) at $2,550-2,600/mt ex-works and for 2-6 mm 430 grade 2B stainless steel CRC at $1,500-1,550/mt ex-works.

Meanwhile, SteelOrbis has been informed that Turkish traders’ prices have remained stable in the current week for 2-6 mm 304 grade 2B stainless steel CRC at $2,450-2,550/mt ex-warehouse, while their prices for 2-6 mm 430 grade 2B stainless steel CRC are still at $1,600-1,650/mt ex-warehouse.

Today, with the news that Indonesia, the major nickel ore supplier, may restrict exports again in 2022 after relaxing the ban in 2017, nickel prices on the London Metal Exchange (LME) and at Shanghai have continued their upward movement. The three-month nickel price at the LME is currently at $14,740/mt. Market sources state that, despite the rise in nickel prices, Turkish domestic stainless steel prices have remained stable due to the weak demand ahead of the Feast of Sacrifice holiday. On the other hand, if nickel prices continue to remain high after the holiday, stainless steel prices in Turkey are expected to increase.

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