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

US stainless steel processor buying prices were rangebound on Thursday after LME Nickel prices dropped again.


The daily Davis Index for 304 solids fell by 0.2¢/lb to 75¢/lb delivered processor yard and inched up for 316 solids by 0.6¢/lb to 96.9¢/lb for single truckloads.


Scrap 304 turnings increased by 0.6¢/lb to 69.9¢/lb delivered and grew for 316 turnings by 0.8¢/lb to 87.5¢/lb delivered processor yard.


LME nickel prices were down by $350/mt from Wednesday with the official three-month LME Nickel contract settling at $17,352/mt on Thursday. The official cash contract closed Thursday at $17,326/mt, down by $354/mt from Wednesday.


Processors remain cautious despite consistent demand for June after a significant drop in LME prices over the past few days. Moreover, the recent sale of steel processor ELG may have an adverse effect on the market.

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