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

US stainless steel processor buying prices were flat following robust demand and decreasing LME nickel prices on Thursday.


The daily Davis Index for 304 solids was flat at 78¢/lb delivered processor yard and was unchanged for 316 solids at $1.003/lb for single truckloads.


Scrap 304 turnings also remained at 73.3¢/lb delivered and inched up for 316 turnings by 0.5¢/lb to 92.2¢/lb, delivered processor yard. 


LME nickel prices were down by $299/mt from Wednesday with the official three-month contract settling at $17,818/mt on Thursday. The official cash contract closed at $17,783/mt today, down by $305/mt from yesterday. 


Stainless steel scrap demand has been robust this week even with fluctuating LME nickel prices leaving processor buying prices mainly unaffected. Market participants are expecting this trend to continue at least for the near term.

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