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

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


The daily Davis Index for 304 scrap solids remained at 48¢/lb delivered processor yard while it dropped by a penny for 316 solids to 68¢/lb for single truckloads.


The Index for scrap 304 turnings also dropped by a penny at 42¢/lb, while 316 turnings remained unchanged at 59¢/lb. 


LME nickel prices again dropped by $95/mt from Wednesday with the official three-month LME Nickel contract settling at $12,625/mt on Thursday. The official cash contract closed Tuesday at $12,535/mt, down by $95/mt from Monday.


Market participants are hearing multiple truckload deals delivered processor yards being purchased at 51¢/lb for scrap 304 solids and at 71¢/lb scrap 316 solids.

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