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

US stainless steel processor buying prices rose slightly on Monday as LME nickel prices inched up. Market outlook, however, remained cautious.


The daily Davis Index for 304 solids rose by 0.9¢/lb to 87.7¢/lb delivered processor yard and increased for 316 solids by 0.6¢/lb to $1.183/lb for single truckloads.


The index for scrap 304 turnings climbed by 0.1¢/lb to 84.3¢/lb and was up for 316 turnings by 0.6¢/lb to 1.093¢/lb, delivered processor yard. 


LME nickel prices increased from Friday by $450/mt with the official three-month LME Nickel contract settling at $18,875/mt on Monday. The official cash contract closed at $18,895/mt today, up by $326/mt from last week.


Bleak demand forecasts and volatile LME nickel prices have led to cautious buying sentiments. Market movements are expected to be slow in September as well.








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