US stainless steel processor buying prices moved sideways for most grades on Friday as the market remained dormant. 

 

The daily Davis Index for scrap 304 solids was unchanged 54.5¢/lb delivered processor yard and rose slightly by the 0.2¢/lb for 316 solids to 75.2¢/lb for single truckloads.

 

The index for scrap 304 turnings was steady at 49.5¢/lb and flat for 316 turnings at 68.5¢/lb delivered processor yard. 

 

LME nickel price was down by $77/mt from Thursday with the official three-month LME Nickel contract settling at $15,845/mt on Friday. The official cash contract closed Friday at $15,815/mt, down by $59/mt from Thursday.

 

A slow, inactive market has led to flat pricing trends in the past week. However, market participants noticed that recent export prices for stainless steel have been strong. Sluggish mill demand toward the closing of the year continues to drive domestic prices for scrap sideways. 

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