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

US stainless steel processor buying prices were rangebound for most grades on a slight decrease in LME Nickel prices on Tuesday.


The daily Davis Index for scrap 304 solids remained at 74.5¢/lb delivered processor yard and was unchanged for 316 solids at 94.5¢/lb for single truckloads.


The index for scrap 304 turnings rose by 0.5¢/lb to 68.5¢/lb delivered but remained at 84.5¢/lb delivered processor yard for 316 turnings.


LME Nickel prices declined by $93/mt from Monday with the official three-month LME Nickel contract settling at $18,197/mt on Tuesday. The official cash contract closed Tuesday at $18,142/mt, down by $98/mt from Monday.


The strength in demand from mills kept stainless-steel processor buying prices from falling in tandem with LME Nickel on Tuesday. However, processors remain uncertain about this trend going into February, as many market participants have forecasted weakening mill demand next month.

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