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

US stainless steel processor buying prices were flat for 304 solids and turnings but inched up for the 316 grades on Tuesday. 


The daily Davis Index for scrap 304 solids held at 54¢/lb delivered processor yard and moved up for 316 solids to 73.7¢/lb from 73.5¢/lb for single truckloads.


The index for scrap 304 turnings was flat at 48.5¢/lb delivered but increased for 316 turnings to 67.5¢/lb delivered from 67.2¢/lb delivered. 


LME nickel prices declined by $2/mt from Monday with the official three-month LME Nickel contract settling at $14,904/mt on Tuesday. 


Stainless steel processor buying prices climbed at the beginning of this week due to increasing demand from domestic mills. However, market participants do not expect the uptick to be a sustainable one with the elections and the last quarter of the year—when prices have historically fallen or moved within a very narrow range—around the corner.

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