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

US stainless steel processor buying prices remained flat or decreased on most grades except for 304 scrap solids that rose on Wednesday.


The daily Davis Index for 304 scrap solids rose by 1¢/lb to settle at 50¢/lb delivered processor yard on Wednesday, while 316 solids remained at 69¢/lb for single truckloads. 


Scrap 304 turnings were also flat at 45¢/lb, while 316 turnings declined by a penny to settle at 61¢/lb. 


The weekly Davis Index for 201 solids remained at 30¢/lb, while the Index for 301 solids increased by a penny to 41¢/lb. Scrap 309 solids decreased by 4¢/lb to settle at 74¢/lb, and scrap 310 solids also decclined by 3¢/lb from last week to settle at $1.14/lb on Wednesday. 


LME nickel prices declined by $10/mt from Tuesday, with the official three-month LME Nickel contract settling at $13,140/mt on Wednesday. The official cash contract closed Wednesday at $13,050/mt, down by $50/mt from Tuesday. 

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