This week, Turkish stainless steel producers have continued to keep their domestic prices stable, 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. According to market sources, both buyers and sellers are cautious about concluding new deals due to the fluctuations of the Turkish lira-US dollar exchange rate.
Meanwhile, over the past two weeks, Turkish traders’ stainless steel prices first decreased due to the weakness of demand, but afterwards increased supported by the upward movement of nickel prices. However, prices have indicated a net decrease in the given period since the declines were sharper than the rises. As a result, Turkish traders’ prices of 304 grade 2B stainless steel CRC have decreased by $100/mt on average to $2,500-2,550/mt ex-warehouse and their prices of 430 grade 2B stainless steel CRC have declined by $125/mt on average to $1,500-1,550/mt ex-warehouse.