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

US stainless steel processor buying prices moved higher on Thursday for all but one grade on the ferrous market’s continued run, limited supply, and a more substantial LME market.The three-month LME nickel market jumped by $363/mt from Thursday’s close.


The daily Davis Index for scrap 304 solids inched up by 0.4¢/lb to 63¢/lb delivered processor yard, while 316 solids increased by the same amount to 84.3¢/lb for single truckloads.


The index for scrap 304 turnings climbed by 1¢/lb to 58.3¢/lb delivered and was flat at 76.2¢/lb for 316 turnings delivered US processor.


LME nickel prices increased by $363/mt on Friday to $16,891/mt from Thursday’s close of $16,519/mt.


Processors, planning to stay ahead of inventory shortages due to tight supply in the colder weather and COVID-19 outbreaks, are inching up pricing to find the right rates to increase their volumes.  The volumes, however, may not be there regardless of the price due to the drawn-out impact of the COVID-19 pandemic on global supply chains.

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