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

US stainless steel processor buying prices were flat for most grades on Friday amid a slight decline in the LME Nickel market.


The daily Davis Index for scrap 304 solids inched up by 0.2¢/lb to 68.2¢/lb delivered processor yard while 316 scrap solids remained unchanged at 88¢/lb for single truckloads.


The indexes for scrap 304 turnings and 316 turnings were unchanged at 62.5¢/lb and 80¢/lb delivered processor yard, respectively.


LME Nickel prices dropped by $6/mt from Thursday with the official three-month LME Nickel contract settling at $17,616/mt on Friday. The official cash contract closed Friday at $17,551/mt, up by $31/mt from Thursday.


Demand from mills and limited scrap flows have strengthened stainless steel processor buying prices since the beginning of December. Processors expect this trend to continue into January.

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