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

US stainless steel processor buying prices increased across most grades on Friday.


The daily Davis Index for scrap 304 solids was flat at 49¢/lb delivered processor yard, and rose for 316 solids to 68.1¢/lb for single truckloads from 67.3¢/lb. 


The index for scrap 304 turnings dropped to 43.7¢/lb delivered from 44.3¢/lb delivered, and moved up for 316 turnings by 0.1¢/lb to 59.9¢/lb delivered. 


LME nickel prices jumped by $314/mt on Friday from a day earlier, with the official three-month LME nickel contract settling at $12,751/mt. 


Stainless steel scrap supply has been tight, and could remain that way, as some states that have reopened are reducing occupancy rates at restaurants and closing bars to slow new COVID-19 infections—prompting a new round of fear about the state of the economy.

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