Over the past week, demand in the local Turkish stainless steel market has remained slack. Market sources state that Turkish buyers are cautious due to the economic situation in Turkey and are making bookings only to meet their immediate needs. Failing to achieve their desired sales tonnages in their domestic market, Turkish stainless steel producers seem to be focused on export sales.
Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel cold rolled coil (CRC) are still at $2,600-2,700/mt ex-works, while their prices of 430 grade 2B stainless steel CRC are at $1,600-1,700/mt ex-works, both indicating sideways movement as compared to the levels in SteelOrbis’ report published on September 7.
Meanwhile, on September 13, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $12,615/mt.