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

US stainless steel processor buying prices decreased slightly for most grades despite increasing LME nickel prices.


The daily Davis Index for scrap 304 solids fell by 1¢/lb to 54.5¢/lb delivered processor yard and declined by the same amount for 316 solids to 74¢/lb for single truckloads, as demand from mills remained weak. 


The index for scrap 304 turnings remained flat at 49.5¢/lb, and inched down for 316 turnings by 0.5¢/lb to 68.5¢/lb delivered processor yard. 


LME nickel prices were up by $86/mt from Tuesday with the official three-month LME Nickel contract settling at $15,922/mt on Thursday. The official cash contract closed Thursday at $15,847/mt, up by $67/mt from Tuesday.


Stainless steel scrap prices have remained mostly flat with very little fluctuation through the week. Participants are still waiting to hear from the mills for further material requirements but do not expect to see much demand for material at this point. 


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