Producer prices revised in Turkish stainless steel market

Thursday, 01 August 2019 17:00:29 (GMT+3)   |   Istanbul
       

Following their attempt to conclude deals at their increased prices following the recent hikes in nickel offers last week, Turkish stainless steel producers revised their prices downwards this week. Over the past week, Turkish stainless steel producers have decreased their domestic prices by $75/mt on average for 2-6 mm 304 grade 2B stainless steel cold rolled coil (CRC) to $2,550-2,600/mt ex-works and have decreased their domestic prices by $125/mt on average for 2-6 mm 430 grade 2B stainless steel CRC to $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.

Accordingly to market sources, demand for stainless steel in Turkey decrease due to upcoming Feast of Sacrifice holiday. Meanwhile, nickel prices on the LMI exchange are currently at $14,460/mt.


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