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

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


The daily Davis Index for scrap 304 solids increased to 47.5¢/lb from 47¢/lb delivered processor yard and fell by half-a-penny for 316 solids to 66.5¢/lb for single truckloads. 


The index for scrap 304 turnings remained flat at 42.5¢/lb and rose for 316 turnings by 1.8¢/lb to 56.3¢/lb. 


LME nickel prices were down by $271/mt from Wednesday with the official three-month LME Nickel contract settling at $12,681/mt on Thursday. The official cash contract closed Thursday at $12,615/mt, down by $266/mt from Wednesday.


Volatility in the stainless-steel market has left processors unsure of the near-term market trends. However, some participants expect stainless steel processor buying prices to fall in tandem with the decreasing LME nickel prices. 

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