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

US stainless steel processor buying prices were rangebound on Monday in a subdued market. 


The daily Davis Index for scrap 304 solids inched up by 0.2¢/lb to 75.2¢/lb delivered processor yard and rose for 316 solids by 0.3¢/lb to 98¢/lb for single truckloads.


Scrap 304 turnings rose by 0.3¢/lb to 70.3¢/lb delivered and remained unchanged for 316 turnings at 88¢/lb delivered processor yard. 


LME nickel prices were up by $55/mt from Thursday with the official three-month LME Nickel contract settling at $17,512/mt on Friday. The official cash contract closed Friday at $17,477/mt, up by $44/mt from Thursday. The LME was closed today for trading due to the Labour Day holiday weekend in the UK.


Rising LME Nickel prices have kept stainless steel processor buying prices rangebound in a sluggish market where weakening demand is constricting trading activity. Processors expect the market to move slowly throughout May.

Leave a Reply

Your email address will not be published.