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

US stainless steel processor buying prices rose for 304 solids and turnings and 316 solids on Monday. 


The daily Davis Index for 304 scrap solids rose to 40.5¢/lb delivered processor yard from 40¢/lb delivered and rose for 316 solids to 60.4¢/lb for single truckloads from 60¢/lb. 


The index for scrap 304 turnings increased to 36¢/lb from 35.8¢/lb and fell for 316 turnings to 54¢/lb from 54.5¢/lb. 


LME nickel prices rose by $176/mt from Friday with the official three-month LME Nickel contract settling at $12,320/mt on Monday. The official cash contract closed Monday at $12,256/mt, up by $183/mt from Friday. 


The rise in processor buying prices on Monday and the increase in LME nickel prices notwithstanding, processors remain concerned about a further price drop because of low demand from domestic mills after buying prices fell by almost 4-5¢/lb last week.

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