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.
Against the backdrop of apprehensions regarding ex-Indonesian nickel supply, nickel prices continue to rise, also due to concerns about the use of nickel in the production of lithium-ion batteries, a market that is already growing. Today, August 15, the cash nickel price at the London Metal Exchange (LME) stands at $16,050/mt.
Market sources report that, despite higher nickel quotations, prices in the local Turkish stainless steel market have remained unchanged due to the weakness of demand. A market source state that the stainless steel prices of Turkish traders are expected to move up in the coming days, and that the rate of the rise will be shaped by traders’ inventory levels. On the other hand, the uptrend of nickel prices is expected to cause a gradual rise in domestic stainless steel prices in Turkey.