Demand in the local Turkish stainless steel market has remained at low levels over the past week. Having failed to receive their desired levels of demand from their domestic market, Turkish stainless steel producers are reportedly focusing on their export markets. Additionally, buyers in the local Turkish stainless steel market have maintained their wait-and-see stance in the given week and are not expected to change this stance in the short term.
Turkish stainless steel producers’ domestic prices of 304 grade 2B stainless steel 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 last week.
Meanwhile, on October 25, global cash nickel prices cash nickel prices at the London Metal Exchange (LME) closed the day at $12,235/mt.