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

US stainless steel processor buying prices moved up significantly on Thursday.


The daily Davis Index for 304 scrap solids moved up by 4¢/lb to 54¢/lb delivered processor yard, while 316 solids increased by 6¢/lb to 75¢/lb for single truckloads. 


Scrap 304 turnings also surged by 3¢/lb at 48¢/lb and 316 turnings went up by 5¢/lb to 66¢/lb. 


LME nickel prices went up by $155/mt from Wednesday with the official three-month LME Nickel contract settling at $13,295/mt on Thursday.


Market participants are seeing significant rise in processor buying prices with the rise in LME Nickel.

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