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

US stainless steel processor buying prices were mostly flat on Wednesday. 


The weekly Davis Index for 201 solids increased by 1.2¢/lb to 28.2¢/lb delivered processor yard on Wednesday and rose for 301 solids to 38.5¢/lb from 38.4¢/lb for single truckloads. 


The index for scrap 309 solids dropped to 69.4¢/lb from 69.6¢/lb delivered and increased for 310 solids to $1.055/lb from $1.05/lb delivered. The Davis Index for 330 solids decreased to $1.681/lb from $1.685/lb delivered processor yard. 


The index for 409/410 solids also declined by $5.4/gt to $294.5/gt delivered processor yard while it fell for 430 solids by $8.4/gt to $372.9/gt delivered. 


Stainless steel prices have been fluctuating this week amid mixed demand trends from domestic mills, which has led to striking price contrasts in the market. 


That said, many processors believe that the initial uptick in prices was led by the manufacturing restarts after over two months of shutdowns. However, that rush in demand seems to have been met now because of which steel prices are now dropping to more normal levels. 


The daily Davis Index for scrap 304 solids was flat at 49¢/lb delivered processor yard but decreased slightly for 316 solids to 68.9¢/lb from 69¢/lb for single truckloads. 


The index for scrap 304 turnings increased to 45.2¢/lb from 44.8¢/lb while it remained unchanged for 316 turnings at 60¢/lb. 


LME nickel prices increased by $179/mt from Tuesday with the official three-month LME nickel contract settling at $13,465/mt on Wednesday. The official cash contract closed Wednesday at $13,415/mt, up by $184/mt from Tuesday.

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