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

US stainless steel processor buying prices fell across most grades as demand from mills weakened on Friday.


The daily Davis Index for 304 scrap solids dropped from 42.5¢/lb to 42¢/lb delivered processor yard while 316 solids decreased by 1.3¢ to 61¢/lb for single truckloads. 


Scrap 304 turnings also dropped from 38¢/lb to 37.8¢/lb on Friday, while 316 turnings increased to 56.8¢/lb from 56.3¢/lb. 


LME nickel prices fell by $6/mt from Thursday with the official three-month LME Nickel contract closing at $11,282/mt on Friday. The official cash LME nickel contract closed on Friday at $11,225/mt, up by $4/mt from Thursday.


Some processors are feeling the impact of COVID-19 as demand from mills, who might still need material for April orders, weakens, making them uncertain about buying additional material next month. 


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