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

US stainless steel processor buying prices rose across most grades on Wednesday amid increasing LME nickel prices.


The weekly Davis Index for 201 solids inched up by 0.4¢/lb to 46.8¢/lb delivered processor yard and increased for 301 solids by 2.7¢/lb to 60.5¢/lb for single truckloads.


The index for scrap 309 solids climbed by a penny to 99.3¢/lb delivered and rose for 310 solids by 0.8¢/lb to $1.54/lb delivered. The weekly Davis Index for 330 solids increased by 3.4¢/lb to $2.547/lb delivered processor yard.


The index for 409/410 solids rose by $36.2/gt to $466.4/gt delivered processor yard and moved up by $22.3/gt to $535.8/gt for 430 solids delivered.


Market participants initially viewed the $50-60/gt drops in the February ferrous market, which settled earlier this week, to impact stainless steel prices. However, the effects of these price drops have been minimal as strong demand for the material from mills and rising LME Nickel prices have pushed stainless steel prices upwards.


The daily Davis Index for scrap 304 solids rose by 0.7¢/lb to 74.8¢/lb delivered processor yard and inched down for 316 solids by 0.1¢/lb to 94.8¢/lb for single truckloads.


The index for scrap 304 turnings climbed by 3.7¢/lb to 69.6¢/lb delivered and increased for 316 turnings by 0.5¢/lb to 85.5¢/lb for single truckloads.


LME nickel prices increased by $146/mt from Tuesday with the official three-month LME Nickel contract settling at $18,534/mt on Wednesday. The official cash contract closed Wednesday at $18,484/mt up by $146/mt from Tuesday.

Leave a Reply

Your email address will not be published.