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

US stainless steel processor buying prices climbed across most grades on revived demand from stainless steel mills.


The weekly Davis Index for 201 solids increased by 1.7¢/lb to 35¢/lb delivered processor yard on Wednesday and rose for 301 solids by 1.6¢/lb to 47.7¢/lb for single truckloads.


The index for scrap 309 solids climbed by 1.9¢/lb to 82.6¢/lb delivered and jumped for 310 solids by 3.1¢/lb to $1.278/lb delivered. The weekly Davis Index for 330 solids inched up by 0.5¢/lb to $2.074/lb delivered processor yard.


The index for 409/410 solids surged by $35.2/mt to $314.2/gt delivered processor yard and rose by $33.7/gt to $397.4/gt for 430 solids delivered.


Robust demand from mills has revived the prices for stainless steel scrap over the past couple of weeks. Some processors consider the need for stainless steel scrap to sustain into January 2021, as mills try to ramp up their production to pre-COVID-19 levels and make up for the losses sustained by them during the lockdown period in the second quarter of 2020. 


The daily Davis Index for scrap 304 solids remained unchanged at 60.5¢/lb delivered processor yard and rose by 0.5¢/lb for 316 solids at 81.5¢/lb for single truckloads.


The index for scrap 304 turnings rose by 0.3¢/lb to 55.8¢/lb delivered but dropped for 316 turnings by 0.2¢/lb to 72.3¢/lb for single truckloads.


LME nickel prices fell by $244/mt from Tuesday with the official three-month LME Nickel contract settling at $15,906/mt on Wednesday. The official cash contract closed Wednesday at $15,850/mt down by $252/mt from Tuesday.

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