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

US stainless steel processor buying prices were unchanged for all grades on Friday after LME nickel prices inched down. 


The daily Davis Index for scrap 304 solids and 316 solids remained unchanged at 71¢/lb delivered processor yard and 90¢/lb for single truckload, respectively.


The index for scrap 304 turnings also held at 66¢/lb and was flat for 316 turnings at 83¢/lb delivered. 


LME nickel prices fell by $22/mt from Thursday with the official three-month LME Nickel contract settling at $17,950/mt on Friday. The official cash contract closed on Friday at $17,890/mt, down by $39/mt from Thursday.


The drop in nickel prices on Friday paused the continuous rise of stainless steel processor buying prices over the past week due to the increase in the LME Nickel market. According to market participants, prices could fall further if the LME Nickel market continues to decrease. 




Leave a Reply

Your email address will not be published.