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

US stainless steel processor buying prices were flat on Thursday as supply remained tight.


The daily Davis Index for 304 scrap solids remained at 50¢/lb delivered processor yard while 316 solids were flat at 71¢/lb for single truckloads. Scrap 304 turnings held at 45¢/lb with the Index for 316 turnings remaining at 62¢/lb. 


LME nickel prices increased by $5/mt from Wednesday with the official three-month LME Nickel contract settling at $13,080/mt on Thursday. The official cash contract closed Thursday at $12,800/mt, up by $5/mt from Wednesday. 


Market participants believe that the increase in scrap buying prices seen this week is more a reflection of slow incoming material and less due to increasing LME nickel prices.

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