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

US stainless steel processor buying prices trended mostly flat amid stable demand and declining LME nickel prices.


The daily Davis Index for scrap 304 solids rose by 0.7¢/lb to 80.7¢/lb delivered processor yard and was unchanged for 316 solids at $1.025/lb for single truckloads.


The index for scrap 304 turnings was up by 0.5¢/lb to 74¢/lb delivered and remained unchanged for 316 turnings at 92.5¢/lb delivered processor yard.


LME nickel prices were down by $961/mt from Thursday with the official three-month LME Nickel contract settling at $18,653/mt on Friday. The official cash contract closed Friday at $18,607/mt, down by $961/mt from Thursday.


Processors have noticed that the continued strong demand from domestic stainless-steel mills and a strong LME nickel market has increased stainless steel prices over the past few weeks. However, participants are noticing a weakness of the dollar which could make it difficult to gauge the market next month.

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