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

US stainless steel processor buying price increased across all grades amid rising LME nickel prices on Monday. 


The daily Davis Index for scrap 304 solids rose by 0.9¢/lb to 54¢/lb delivered processor yard and moved up for 316 solids by 1.8¢/lb to 75¢/lb for single truckloads.


The index for scrap 304 turnings increased by 0.6¢/lb to 50.5¢/lb and jumped up for 316 turnings by 1.5¢/lb to 50.5¢/lb delivered processor yard. 


LME nickel prices increased by $100/mt from Friday with the official three-month LME Nickel contract settling at $14,405/mt on Thursday. The official cash contract closed Monday at $14,360/mt, up by $89/mt from Friday.


Processor buying prices followed the trend set by LME Nickel on Monday, breaking a cycle of continued declines in the past two weeks. However, processors remain unsure about how long the upward movement would last. Most of the market participants believe this is a temporary reprieve and expect a drop in prices in the short term. 

Leave a Reply

Your email address will not be published.