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

US stainless steel processor buying prices rose on Tuesday in a robust demand outlook.


The daily Davis Index for 304 solids inched up by 0.5¢/lb to 89.8¢/lb delivered processor yard and increased for 316 solids by 0.8¢/lb to $1.211/lb for single truckloads.


Scrap 304 turnings was up by 0.5¢/lb to 85.5¢/lb and grew for 316 turnings by $1.6/lb to 1.124¢/lb, delivered processor yard. 


LME nickel prices were up from Friday by $595/mt with the official three-month LME Nickel contract settling at $19,600/mt on Tuesday. The official cash contract closed at $19,513/mt today, up by $599/mt from Friday.


Stainless steel prices have been volatile across regions with 304 solids nearing high levels of 90¢/lb in some places and subdued in other areas depending on material supply. That said, domestic and international demand is expected to be strong over the near term with 304 solids likely to inch up by 1-2¢/lb from today’s prices, while 316 solids may rise to about $1.25/lb.



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