US stainless steel processor buying prices increased for 304 solids and 316 turnings on Thursday. 


The daily Davis Index for scrap 304 solids increased to 47.5¢/lb from 47¢/lb delivered processor yard and fell by half-a-penny for 316 solids to 66.5¢/lb for single truckloads. 


The index for scrap 304 turnings remained flat at 42.5¢/lb and rose for 316 turnings by 1.8¢/lb to 56.3¢/lb. 


LME nickel prices were down by $271/mt from Wednesday with the official three-month LME Nickel contract settling at $12,681/mt on Thursday. The official cash contract closed Thursday at $12,615/mt, down by $266/mt from Wednesday.


Volatility in the stainless-steel market has left processors unsure of the near-term market trends. However, some participants expect stainless steel processor buying prices to fall in tandem with the decreasing LME nickel prices. 

Leave a Reply

Your email address will not be published.