Local Turkish stainless steel prices rise slightly

Friday, 24 May 2019 17:54:29 (GMT+3)   |   Istanbul
       

Turkish stainless steel producers have increased their domestic prices by $50/mt in the current week, with prices of 304 grade 2B stainless steel cold rolled coil (CRC) now at $2,450-2,550/mt ex-works and prices of 430 grade 2B stainless steel CRC at $1,450-1,550/mt ex-works.

Meanwhile, SteelOrbis has been informed that Turkish traders’ prices of 304 grade 2B stainless steel CRC have remained unchanged week on week at $2,450-2,600/mt ex-warehouse, while their prices of 430 grade 2B stainless steel CRC have increased by $50/mt on the upper end to $1,550-1,700/mt ex-warehouse.

According to market sources, buyers and sellers in the local Turkish stainless steel market are cautious about concluding new deals due to Ramadan and the depreciation of the Turkish lira against the US dollar. The upward movement of prices is linked to the strong trend of the US dollar against the Turkish lira, resulting from the economic and political problems in Turkey, according to market sources. Meanwhile, sellers are giving priority to cash sales and are trying to limit their credit sales.

 


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