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

US stainless steel processor buying prices dropped across most grades despite a rise in LME nickel prices on Wednesday. 


The weekly Davis Index for 201 solids declined by 2.8¢/lb to 45¢/lb delivered processor yard and moved down for 301 solids by 5.1¢/lb to 59.5¢/lb for single truckloads. 


The index for scrap 309 solids dropped by 7¢/lb to 94¢/lb delivered and decreased for 310 solids by 13¢/lb to $1.445/lb delivered. The weekly Davis Index for 330 solids fell by 30.2¢/lb to $2.288/lb delivered processor yard. 


The index for 409/410 solids moved down by $18.5/gt to $445/gt delivered processor yard and decreased by $12.5/gt to $551.5/gt for 430 solids delivered. 


Processors have become cautious with their purchases of stainless-steel scrap due to the volatility in the LME Nickel market, thus putting a downward pressure on prices. However, this trend is offset by robust mill demand that has prevented prices from falling too steeply.


The daily Davis Index for scrap 304 solids decreased by 1.4¢/lb to 70.3¢/lb delivered processor yard and rose for 316 solids by 0.5¢/lb to 93¢/lb for single truckloads. 


The index for scrap 304 turnings fell by 1.6¢/lb to 64.7¢/lb delivered and inched down by 0.2¢/lb to 83.3¢/lb for single truckloads for 316 turnings. 


LME nickel prices increased by $129/mt from Tuesday with the official three-month LME Nickel contract settling at $16,080/mt on Wednesday. The official cash contract closed Wednesday at $16,040/mt up by $133/mt from Tuesday.

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