Turkish domestic stainless steel suppliers seek to keep their prices stable

Friday, 10 May 2019 17:41:53 (GMT+3)   |   Istanbul
       

Turkish stainless steel producers have continued to keep their domestic prices stable in the current week, with prices of 304 grade 2B stainless steel cold rolled coil (CRC) at $2,400-2,500/mt ex-works and prices of 430 grade 2B stainless steel CRC at $1,400-1,500/mt ex-works.

Meanwhile, SteelOrbis has been informed that Turkish traders’ prices of 304 grade 2B stainless steel CRC have remained stable week on week at $2,450-2,550/mt ex-warehouse, while their prices of 430 grade 2B stainless steel CRC have also moved sideways at $1,550-1,650/mt ex-warehouse. Additionally, SteelOrbis has been informed that some traders are offering lower prices for large volumes of 304 grade 2B stainless steel CRC at $2,350/mt ex-warehouse.

Market sources state that buyers have started to expect a fall in stainless steel prices amid the relatively slower demand during Ramadan and also due to the decreasing trend of global cash nickel prices at the London Metal Exchange (LME) over recent days, which are at $11,710/mt today, May 10. Additionally, it is heard that both buyers and sellers in the local Turkish stainless steel market are now more cautious against the backdrop of the depreciation of the Turkish lira, and so sales on credit are limited as everyone is making cash transactions.


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