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

US stainless steel processor buying prices decreased slightly across all grades on Monday. 


The daily Davis Index for scrap 304 solids dropped to 45.2¢/lb from 45.5¢/lb delivered processor yard and fell for 316 solids to 62.9¢/lb from 63.4¢/lb for single truckloads. 


The index for scrap 304 turnings declined by half a penny to 42¢/lb and decreased for 316 turnings to 53¢/lb from 53.3¢/lb. 


Stainless steel buying prices have fluctuated this past week as demand returns to the market after a prolonged lockdown eased at the end of last month. Different processors have different material needs and while some participants have enough scrap to meet rising demand, others are scrambling for more material. However, processors expect prices to drop gradually as supply catches up with demand.


LME nickel prices increased by $153/mt from Friday with the official three-month LME Nickel contract settling at $13,010/mt on Monday. The official cash contract closed Monday at $13,943/mt, up by $158/mt from Friday.

Leave a Reply

Your email address will not be published.