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

US stainless steel processor buying prices continued to climb on Tuesday as LME nickel prices rose for another day and export markets strengthened.


The daily Davis Index for 304 solids rose by 2.5¢/lb to 90.2¢/lb delivered processor yard and increased for 316 solids by 5.5¢/lb to $1.208/lb for single truckloads.


Scrap 304 turnings was up by 1.5¢/lb to 85.8¢/lb and jumped up for 316 turnings by 1.5¢/lb to 1.108¢/lb, delivered processor yard. 


LME nickel prices were up from Monday by $180/mt with the official three-month LME Nickel contract settling at $18,875/mt on Tuesday. The official cash contract closed at $19,040/mt today, up by $145/mt from yesterday.


Stainless steel processor buying prices and LME nickel prices have increased since Monday after plummeting last week. However, participants remain cautious of buying material even as exports appear to improve. International mills demand for US steel scrap is mainly from China and India and if it stays robust, domestic prices are likely to inch higher in the near term.







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