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

US stainless steel processor buying prices increased across all grades on Tuesday.    


The daily Davis Index for scrap 304 solids ticked up to 48.8¢/lb from 48.6¢/lb delivered processor yard and decreased for 316 solids to 66.6¢/lb from 66.2¢/lb for single truckloads. 


The index for scrap 304 turnings increased to 44.5¢/lb from 44.4¢/lb and moved up for 316 turnings by 1.5¢/lb to 57.5¢/lb. 


LME nickel prices were down by $100/mt from Monday with the official three-month LME Nickel contract settling at $12,592/mt on Tuesday. The official cash contract closed Tuesday at $12,541/mt, down by $84/mt from Monday.


Stainless steel buying prices have risen gradually this week because of a slight increase in market demand even though LME nickel prices have trended south. Processors expect demand to increase as more businesses resume operations after COVID-19 related lockdowns.

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