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

US stainless steel processor buying prices increased slightly for 304 and 316 solids as well as 316 turnings on Thursday. 


The daily Davis Index for scrap 304 solids increased to 50¢/lb from 49.4¢/lb delivered processor yard and rose for 316 solids to 69.9¢/lb from 69.6¢/lb for single truckloads.


The index for scrap 304 turnings fell by a penny to 45.5¢/lb but moved up for 316 turnings to 60.4¢/lb from 60¢/lb delivered. 


LME nickel prices increased by $238/mt from Wednesday with the official three-month LME nickel contract settling at $13,498/mt on Thursday. The official cash contract closed Thursday at $13,460/mt, up by $245/mt from Wednesday.


Stainless steel prices have not moved much this week. Demand is dropping, albeit slowly, which could be contributing to prices remaining within a narrow range over the past two weeks, according to some processors, who believe the ferrous market could settle stronger in August.

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