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

The daily Davis Index for US stainless steel processor buying prices was flat on Friday with 304 scrap solids remaining at 50¢/lb delivered processor yard and 316 solids at 71¢/lb for single truckloads. 


The Index for scrap 304 turnings also held at 45¢/lb, while 316 turnings settled at 62¢/lb. 


LME nickel dropped by $225/mt from Thursday with the official three-month LME Nickel contract settling at $12,855/mt on Friday. The official cash contract closed Tuesday at $12,770/mt, down by $240/mt from Thursday.


Stainless processor buying prices increased during the week, but market participants believe that the increase was more a reflection of tight supply and less due to the increasing seen on LME nickel before Friday’s drop.

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