Over the past week, prices in the local Turkish stainless steel market have increased by $150/mt week on week, with prices of 2 mm 304 grade 2B stainless steel cold rolled coil (CRC) rising to $2,650-2,750/mt ex-works and prices of 2 mm 430 grade 2B stainless steel CRC starting to range at $1,650-1,750/mt ex-works.
According to market sources, Turkish stainless steel producers have revised their prices upwards since their production costs have increased as a result of higher nickel prices.
Cash nickel prices at the London Metal Exchange (LME) have continued their fluctuating trend over the past week, while on February 8, LME cash nickel prices closed the day at $13,025/mt.