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

US stainless steel processor buying prices rose slightly for 304 solids and turnings on Friday. 


The daily Davis Index for 304 scrap solids rose to 43.5¢/lb from 43.3c/lb delivered processor yard and moved up for 316 solids to 63.6¢/lb from 63.5c/lb for single truckloads. 


The index for scrap 304 turnings increased to 39.1¢/lb from 39c/lb and remained unchanged for 316 turnings at 55.3¢/lb. 


LME nickel prices increased by $241/mt from Thursday with the official three-month LME Nickel contract settling at $11,967/mt on Friday. The official cash contract closed on Friday at $11,887/mt, up by $230/mt from Thursday. 


Stainless steel processor buying prices have increased during the week, but processors are concerned about a price correction as the market moves towards May due to a lack of demand for the material from mills. 

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