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

US stainless steel processor buying prices increased across most grades on Wednesday. 


The weekly Davis Index for 201 solids dropped by 2.5¢/lb to 26¢/lb delivered processor yard on Wednesday but rose for 301 solids by 1.3¢/lb to 37¢/lb for single truckloads. 


The index for scrap 309 solids ticked up to 6.63¢/lb delivered from 6.57¢/lb delivered and increased for 310 solids to 95.3¢/lb delivered from 95¢/lb delivered. The Davis Index for 330 solids moved up by 3.7¢/lb to $1.56/lb delivered processor yard. 


The index for 409/410 solids also jumped by $41/gt to $295.8/gt delivered processor yard and increased for 430 solids by $16.5/gt to $352.4/gt delivered. 


LME nickel prices have mostly trended up this week and stainless-steel buying prices have moved up in tandem. Market participants expect this trend to continue, though some processors claim that a decline in the ferrous market next month could negatively impact stainless steel buying prices. 


The daily Davis Index for scrap 304 solids rose to 47.5¢/lb from 47¢/lb delivered processor yard and ticked up for 316 solids to 66¢/lb from 65.8¢/lb for single truckloads. 


The index for scrap 304 turnings increased by 1.6¢/lb to 44.8¢/lb but declined for 316 turnings by 3.6¢/lb to 52.3¢/lb. 


LME nickel prices decreased by $26/mt from Tuesday with the official three-month LME nickel contract settling at $12,948/mt on Wednesday. The official cash contract closed Wednesday at $12,900/mt, down by $30/mt from Tuesday.

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