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

US stainless steel processor buying prices rose across most grades on Wednesday in tandem with rising LME nickel prices. 


The weekly Davis Index for 201 solids fell by 0.5¢/lb to 32¢/lb delivered processor yard but rose for 301 solids by the same amount to 43¢/lb for single truckloads.


The index for scrap 309 solids increased by 2.3¢/lb to 72.3¢/lb delivered and climbed for 310 solids by 5.7¢/lb to $1.127/lb delivered. The Davis Index for 330 solids increased by 6.3¢/lb to $1.793/lb delivered processor yard. 


The index for 409/410 solids dropped by $1.8/gt to $304.7/gt delivered processor yard and jumped by $7.8/gt to $381/gt delivered for 430 solids. 


Stainless steel prices are fluctuating along with the LME Nickel market. Some processors are noticing an uncertain demand for the rest of the year. As a result, they forecast continued volatility in prices due to the changes in mill projections when compared with scrap supply. 


The daily Davis Index for scrap 304 solids rose by 1.7¢/lb at 55.2¢/lb delivered processor yard and was up by 1.2¢/lb for 316 solids to 76.3¢/lb for single truckloads. 


The index for scrap 304 turnings increased by 1.2¢/lb to 50.3¢/lb delivered and fell for 316 turnings by 0.4¢/lb to 66.5¢/lb for single truckloads. 


LME Nickel prices were up by $205/mt from Tuesday with the official three-month LME Nickel contract settling at $15,849/mt on Wednesday. The official cash contract closed Wednesday at $15,819/mt up by $217/mt from Tuesday.

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