Stainless steel markets fail to see expected improvements

In early August, demand and buying activities in the international stainless steel markets were expected to see recoveries. However, coming to the end of the first week of September, the stainless steel markets have not yet registered the anticipated improvements and so stainless steel demand has continued to be sluggish and prices have mostly remained stable.
                      
In the meantime, Far Eastern steel mills' offers to the Turkish market for 304/2B stainless cold rolled coil (CRC) of 2 mm thickness are standing at $2,700/mt CFR, while products from stocks could be less expensive.
 
Taiwanese stainless steel mills have kept their September prices unchanged as compared to last month's price levels in consideration of the uptrend in raw material prices, the decline in stocks and the more positive outlook for the stainless steel markets. Furthermore, Taiwanese mill YUSCO, which had reduced its offers over the previous six months, has also announced unchanged price levels.
 
On the other hand, nickel prices seem to indicate some improvements as compared to mid-August. Nickel prices at the London Metal Exchange (LME) closed on September 5 at $15,835/mt for cash settlements. Meanwhile, the three-month stainless steel prices at the LME have increased by $800/mt since mid-August to $16,100/mt.