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

US stainless steel processor buying prices for 304 and 316 solids rose slightly on Wednesday, while they declined for turnings.


The daily Davis Index for 304 scrap solids increased to 39.5¢/lb from 39.1¢/lb delivered processor yard, and 316 solids rose slightly to 59.5¢/lb from 59.1¢/lb for single truckloads. 


Scrap 304 turnings, however, fell to 34¢/lb from 34.2¢/lb, and 316 turnings dropped to 52¢/lb from 52.2¢/lb. 


US stainless steel processor buying prices for 201 solids were flat at 27¢/lb delivered processor yard on Wednesday, while 301 solids dropped by 3.7¢ to 30.8¢/lb from last week for single truckloads. Scrap 309 solids decreased by 2.5¢ to 62.5¢/lb delivered, and 310 solids declined by 4.5¢ to 92.5¢/lb delivered. 330 solids decreased significantly by 11.5¢/lb to $1.445/lb delivered processor yard. 


Prices for 409 and 410 solids fell by $22.4/gt to $201.6/gt, while 430 solids increased by $44.8/gt to $268.8/gt from last week for single truckloads. 


LME nickel prices saw a significant decrease of $118/mt from Tuesday, with the official three-month LME nickel contract settled at $12,209/mt on Wednesday. The official cash contract closed the day at $12,135/mt, decreasing by $116/mt from Tuesday. 


Stainless steel processor buying prices have declined by 4-5c/lb over the last week, which market participants attributed to the lack of demand in the market, adding that they’re unsure of what May holds in store.


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