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

US stainless steel processor buying prices increased slightly amidst rising LME nickel prices on Friday.


The daily Davis Index for scrap 304 solids grew by 0.3¢/lb to 74.8¢/lb delivered and was up for 316 solids by 0.4¢/lb to 94.7¢/lb delivered processor yard for single truckloads.


Scrap 304 turnings inched up by 0.4¢/lb to 70.8¢/lb delivered and increased by 0.1¢/lb for 316 turnings to 84.5¢/lb delivered processor yard. 


LME nickel prices were up by $142/mt from Thursday with the official three-month LME Nickel contract settling at $16,196/mt on Friday. The official cash contract closed at $16,150/mt on Friday, up by $141/mt from the previous day. 


Sentiments are mixed on the demand for stainless steel scrap with some regions seeing robust purchases from the big stainless steel mills which are keeping the market busy. On the supply side, the material flow has now become adequate for tonnage requirements after a shortage earlier in the month. 

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