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

US stainless steel processor buying prices increased across most grades on Thursday despite falling LME Nickel prices. 


The daily Davis Index for scrap 304 solids rose by 0.3¢/lb to 54.8¢/lb delivered processor yard and remained flat for 316 solids at 79¢/lb for single truckloads.


The index for scrap 304 turnings grew by 1¢/lb to 54¢/lb and climbed by 1.5¢/lb for 316 turnings to 71.5¢/lb delivered processor yard. 


The LME Nickel prices declined by $34/mt from Wednesday with the official three-month LME Nickel contract settling at $15,743/mt on Thursday. The official cash contract closed Thursday at $15,690/mt, down by $55/mt from Wednesday.


Stainless steel prices are rising gradually on an unexpected increase in demand from mills in a shift from the slow demand seen in this segment historically. The sudden increase in mill demand is coupled with a material supply tightness, which, according to processors, is pushing up the prices for stainless steel scrap. 

Leave a Reply

Your email address will not be published.