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

US stainless steel processor buying prices continued to climb as supply remains tight through robust mill demand. 


The daily Davis Index for 304 solids rose by 0.1¢/lb to 88.5¢/lb delivered processor yard and was up for 316 solids by 0.6¢/lb to $1.155/lb for single truckloads.


Scrap 304 turnings grew by 1.1¢/lb to 84.3¢/lb and increased for 316 turnings by 0.6¢/lb to 1.057¢/lb, delivered processor yard. 


LME nickel prices were up by $50/mt from Monday with the official three-month LME Nickel contract settling at $18,725/mt on Tuesday. The official cash contract closed at $18,785/mt today, up by $219/mt from yesterday.


Increased ferrous scrap numbers, steady and strong demand coupled with continued supply tightness have pushed stainless steel prices higher. Participants expect this trend to last throughout July.

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