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

The weekly US stainless steel processor buying prices jumped significantly for 330 solids on Wednesday amid tight supply.


The daily Davis Index for scrap 304 solids moved up by 1.9¢/lb to 42.8¢/lb delivered processor yard and rose for 316 solids to 62¢/lb from 61.9¢/lb for single truckloads. 


The index for scrap 304 turnings increased by 1.3¢/lb to 39.8¢/lb, but dropped for 316 turnings by 4.9¢/lb to 50.6¢/lb. 


The weekly Davis Index for 201 solids was flat at 25¢/lb delivered processor yard on Wednesday and increased for 301 solids by 2.5¢/lb to 34.5¢/lb for single truckloads. 


The index for scrap 309 solids also surged by 2.8¢/lb to 62.5¢/lb delivered and jumped for 310 solids by 3.5¢/lb to 92.5¢/lb delivered. The Davis Index for 330 solids surged by 8¢/lb to $1.47/lb delivered processor yard. 


The indexes for 409/410 solids surged by $13.4/gt to $259.8/gt and 430 solids fell by $34.2/gt to $357.9/gt, for single truckloads. 


LME nickel prices decreased by $57/mt from Tuesday with the official three-month LME nickel contract settling at $12,275/mt on Wednesday. The official cash contract closed Wednesday at $12,200/mt, down by $75/mt from Tuesday. 


Stainless steel processor buying prices have seen a gradual rise because, according to some market participants, few processors are buying aggressively leading to a tight supply, which in turn is increasing buying prices.

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