Despite showing a fluctuating trend during most of March, global nickel prices have recently been trending sideways in the range of $16,500-17,000/mt, while low demand in the Turkish stainless steel market has contributed to the stable price trend in the market. In the meantime, the price range for import offers is quite wide. Chinese and Taiwanese offers for 304/2B stainless steel cold rolled coil (CRC) of 2.0 mm thickness to Turkey are ranging at $2,650-2,800/mt CFR. However, market sources believe that offers at $2,800/mt CFR of prime quality Far Eastern origin material from stocks are on the high side for the Turkish market.
On the other hand, with the euro weakening against the US dollar recently, ex-Europe offers have become more attractive for Turkish buyers. Second grade stainless steel CRC offers from Europe to Turkey at $2,100-2,150/mt CFR are attracting the interest of Turkish buyers with their short lead times and advantageous prices. Besides, with leading European stainless steel mills' price reduction for alloy surcharges this week, there are now expectations for a decrease in ex-Europe stainless steel offers.
€1 = $1.28