Demand in the local Turkish stainless steel market has remained unchanged during the past week at low levels. Having kept their domestic stainless steel prices stable for a long time due to the weakness of demand despite the rises of global nickel prices, Turkish mills have revised their domestic stainless steel offers upwards over the past week. Accordingly, Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel cold rolled coil (CRC) have moved up by $100/mt week on week to $2,800-2,900/mt ex-works, while prices of 430 grade 2B stainless steel CRC have increased by $150/mt during the past week to $1,800-1,900/mt ex-works.
On the other hand, on June 7, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $15,750/mt.