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

US stainless steel processor buying prices remained unchanged across all grades on Thursday amid slightly increasing LME nickel prices and slow market movements.


The daily Davis Index for scrap 304 solids remained unchanged at 74.8¢/lb delivered processor yard and was flat for 316 solids at 97.8¢/lb for single truckloads.


Scrap 304 turnings settled unchanged at 67.5¢/lb delivered as did 316 turnings at 88¢/lb delivered processor yard.


LME nickel prices climbed by $87/mt from Wednesday with the official three-month LME Nickel contract settling at $16,818/mt on Thursday. The official cash contract closed Thursday at $16,778/mt, up by $97/mt from Wednesday.


The stainless-steel market has paused to gauge the impact of the new infrastructure bill on the market in the long term and the slight tightness in supply in the near term. The market is expected to remain slow until the end of this week.

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