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

US stainless steel processor buying prices dropped slightly for 304 turnings and 316 solids and turnings on Wednesday. 


The daily Davis Index for 304 solids remained at 45¢/lb delivered processor yard and dropped for 316 solids to 64¢/lb from 64.2¢/lb for single truckloads. 


The index for scrap 304 turnings fell to 40.1¢/lb from 41¢/lb, while 316 turnings decreased to 55.9¢/lb from 56¢/lb. 


The weekly Davis Index for US stainless steel scrap 201 solids increased by a penny to 27¢/lb delivered processor yard on Wednesday, while the index for 301 solids moved up by 2¢ to 34.5¢/lb for single truckload. The index for scrap 309 solids surged by 2.5¢ to 65¢/lb delivered while 310 solids increased by 4¢ to 97¢/lb delivered and 330 solids rose by 9.5¢/lb to $1.56/lb delivered processor yard.


The index for scrap 409/410 solids moved up by $11.2/gt to $224/gt for single truckload while 430 solids declined by $44.8/gt to $224/gt for single truckload on Wednesday. 


LME nickel prices decreased by $190/mt from Tuesday with the official three-month LME Nickel contract settling at $11,966/mt on Wednesday. The official cash contract closed Wednesday at $11,895/mt, down by $190/mt from Tuesday. 


Tight supply has led to the increase in prices but some processors are concerned over the slow movement of the material due to the COVID-19 pandemic and believe that raising prices is the only way to stimulate the market.

Leave a Reply

Your email address will not be published.