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

US stainless steel processor buying prices rose as strong mill demand continues. 


The daily Davis Index for 304 solids climbed by 0.2¢/lb to 89.7¢/lb delivered processor yard and was up for 316 solids by 0.6¢/lb to $1.183/lb for single truckloads.


Scrap 304 turnings grew by 0.1¢/lb to 85.8¢/lb and inched up for 316 turnings by 0.2¢/lb to 1.066¢/lb, delivered processor yard. 


LME nickel prices climbed by $265/mt from Wednesday with the official three-month LME Nickel contract settling at $18,870/mt on Thursday. The official cash contract closed at $18,870/mt today, up by $488/mt from yesterday.


Strong demand and rising LME nickel prices have pushed stainless steel processor buying prices upward till now. However, there appears to be a lull today with the market balanced. This may change as participants expect prices to increase further in the near term.


Leave a Reply

Your email address will not be published.