Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US stainless steel processor buying prices trended flat to down for most grades on Wednesday. 


The weekly Davis Index for 201 solids decreased by a penny to 27¢/lb delivered processor yard on Wednesday and fell for 301 solids by 3¢/lb to 37.9¢/lb for single truckloads. 


The index for scrap 309 solids increased to 70.8¢/lb from 70¢/lb delivered and moved up for 310 solids to $1.077/lb from $1.07¢/lb delivered. The Davis Index for 330 solids increased to $1.67/lb from $1.63/lb delivered processor yard. 


The index for 409/410 solids also declined by $27.3/mt to $261.9/gt delivered processor yard but remained unchanged for 430 solids at 378.3/gt delivered. 


Stainless steel buying prices have sideways to soft over the past few weeks on uncertainty over further shutdowns in August given the rising number of COVID-19 cases. That said, demand from the mills for now has stabilized keeping processor prices at current levels. 


The daily Davis Index for scrap 304 solids was unchanged at 49.6¢/lb delivered processor yard and was flat for 316 solids at 69.6¢/lb for single truckloads. 


The index for scrap 304 turnings remained at 46.6¢/lb and was held at 60¢/lb for 316 turnings.


LME nickel prices decreased by $107/mt from Tuesday with the official three-month LME nickel contract settling at $13,260/mt on Wednesday. The official cash contract closed Wednesday at $13,215/mt, down by $100/mt from Tuesday.

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