Over the past week, Turkish stainless steel producers have continued to keep their domestic prices stable, with prices of 2-6 mm 304 grade 2B stainless steel cold rolled coil (CRC) at $2,400-2,500/mt ex-works and prices of 2-6 mm 430 grade 2B stainless steel CRC at $1,400-1,500/mt ex-works.
Meanwhile, SteelOrbis has been informed that Turkish traders’ prices of 2-6 mm 304 grade 2B stainless steel CRC have increased by $50/mt week on week to $2,450-2,550/mt ex-warehouse, while their prices of 2-6 mm 430 grade 2B stainless steel CRC have risen by an average of $125/mt over the same period to $1,600-1,650/mt ex-warehouse.
According to market sources, stainless steel demand in Turkey is still slack due to sluggish summer season, though trading activity is at medium levels. Traders state that, recently, they have been adjusting their prices on daily basis due to the sharp rises in nickel prices at the London Metal Exchange (LME), which have increased by $1,025/mt since the beginning of this week to $14,230/mt and may continue to increase their prices if the upward movement of nickel prices continues. Meanwhile, according to market sources, Turkish stainless steel producers, which have adopted a wait-and-see stance and have not increased their offers for now, are likely to raise their prices at any time.