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

US stainless steel processor buying prices were rangebound on Friday despite a small increase in LME nickel prices.


The daily Davis Index for scrap 304 solids remained at 74.5¢/lb delivered processor yard and was unchanged for 316 solids at 96¢/lb for single truckloads.


The index for scrap 304 turnings dropped by 0.1¢/lb to 69.7¢/lb delivered and rose for 316 turnings by 0.1¢/lb to 87.4¢/lb delivered processor yard.


LME nickel prices increased by $57/mt from Thursday with the official three-month LME Nickel contract settling at $17,761/mt on Friday. The official cash contract closed Friday at $17,727/mt, up by $65/mt from Thursday.


Stainless steel processor buying prices have started trending down this week in tandem with a decline in the LME Nickel prices. Processors expect the prices to drop further in February due to a potentially weaker domestic ferrous scrap market.

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