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

US stainless steel processor buying prices increased for 304 solids dropped slightly for 316 solids on Monday.


The daily Davis Index for scrap 304 solids ticked up by 2¢/lb to 48.6¢/lb delivered processor yard, and decreased for 316 solids to 66.2¢/lb from 66.6¢/lb for single truckloads. 


The indexes for scrap 304 turnings increased by 2.8¢/lb to 44.4¢/lb, and rose for 316 turnings to 56¢/lb from 55.6¢/lb. 


LME nickel prices decreased by $229/mt from Friday, with the official three-month LME nickel contract settling at $12,692/mt on Monday. The official cash contract closed Monday at $12,624/mt, down by $230/mt from Friday.


Processors are beginning to see slight upticks in stainless steel demand in the market, and this has led to a gradual increase in pricing, as well. Market participants hope for demand to remain, but they are unsure if this will continue. 

Leave a Reply

Your email address will not be published.