Generally, prices register increases and demand sees a recovery in the January-February period, but it is still uncertain whether this will happen in early 2013. Hence, some market players think that stainless steel prices will increase with the upward momentum of nickel prices, but others believe that market demand is not sufficient to support price increases. Even if stainless steel mills seek to raise their offers in the New Year, prices will drop down again to their current ranges if demand fails to reach expected levels.
At present, Far Eastern origin offers to Turkey for prime quality 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness are in the range of $2,700-2,800/mt CFR. Especially Chinese and Taiwanese origin second quality materials from ready stocks are standing at around $100-150/mt below this range. However, demand is not anticipated to register an improvement in December and prices will likely maintain their current levels.
Meanwhile, according to the data provided by the Turkish Statistical Institute (TUIK), in October this year Turkey's stainless flat steel imports rose by 9.1 percent compared to the previous month, reaching 27,725 metric tons.
Nickel prices, which had dropped in early November to the level of $15,000/mt, as they had this summer, started to increase again as of late November and in early December. Accordingly, as of December 6, nickel prices for cash settlements at the London Metal Exchange (LME) closed the day at $17,380/mt, though there are different opinions on whether this upward momentum will continue in the long term.
