Prices remain stable in Turkish stainless steel market

Friday, 17 May 2019 16:48:08 (GMT+3)   |   Istanbul
       

Turkish stainless steel producers have continued to keep their domestic prices stable in the current week, with prices of 304 grade 2B stainless steel cold rolled coil (CRC) at $2,400-2,500/mt ex-works and prices of 430 grade 2B stainless steel CRC at $1,400-1,500/mt ex-works. 

Meanwhile, SteelOrbis has been informed that Turkish traders’ prices of 304 grade 2B stainless steel CRC have increased by $50/mt on the upper end week on week to $2,450-2,600/mt ex-warehouse, while their prices of 430 grade 2B stainless steel CRC have moved sideways at $1,550-1,650/mt ex-warehouse. Additionally, SteelOrbis has been informed that traders’ prices for second quality 304 grade 2B stainless steel CRC are at $2,350/mt ex-warehouse.

Market sources state that demand for domestic stainless steel in Turkey has almost come to a halt as buyers are now more cautious about making new bookings due to the depreciation of the Turkish lira against the US dollar, due to the political tensions resulting from the decision to rerun Istanbul's mayoral election and due to Ramadan. Additionally, sellers prefer to make cash transactions instead of concluding sales on credit.

 


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