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

US stainless steel processor buying prices have moved within a small range across all grades on Wednesday amid dropping LME nickel prices. 


The weekly Davis Index for 201 solids rose by half a penny to 34¢/lb delivered processor yard on Wednesday and moved up for 301 solids to 46.1¢/lb from 45.5¢/lb for single truckloads. 


The index for scrap 309 solids fell by 2.1¢/lb to 81.9¢/lb delivered and decreased for 310 solids by 3¢/lb to $1.25/lb delivered. The Davis Index for 330 solids ticked down 1.5¢/lb to $2.05/lb delivered processor yard. 


The index for 409/410 solids increased by $36.8/gt to $332.4/gt delivered processor yard and climbed by $27.4/gt to $402.9/gt for 430 solids delivered. 


Demand from steel mills has prevented stainless steel processor buying prices from steeper falls due to the declines in LME nickel. In fact, the consistent demand from steel mills is slowly tightening supply of the material, according to some market participants. As a result, the processors do not expect a significant decrease in prices even if LME nickel continues to slide. 


The daily Davis Index for scrap 304 solids was flat at 57¢/lb delivered processor yard and rose for 316 solids by 0.9¢/lb to 76.9¢/lb for single truckloads. 


The index for scrap 304 turnings fell by 0.9¢/lb to 52.1¢/lb delivered and declined for 316 turnings to 68.5¢/lb from 69¢/lb for single truckloads. 


LME nickel prices decreased by $279/mt from Tuesday with the official three-month LME Nickel contract settling at $14,853/mt on Wednesday. The official cash contract closed Wednesday at $14,821/mt down by $269/mt from Tuesday.

Leave a Reply

Your email address will not be published.