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

US stainless steel processor buying prices increased across all grades on Tuesday amid rising demand from mills.


The daily Davis Index for scrap 304 solids went up by 2.4¢/lb to 49¢/lb delivered processor yard and rose for 316 solids by 1.5¢/lb to 69¢/lb for single truckloads.


The index for scrap 304 turnings ticked up by 1.8¢/lb to 44.8¢/lb and increased for 316 turnings by 2¢/lb to 60¢/lb delivered. 


LME nickel prices declined by $22/mt from Monday with the official three-month LME nickel contract settling at $13,286/mt on Tuesday. The official cash contract closed Tuesday at $13,231/mt, down by $11/mt from Monday.


Rising demand from domestic stainless-steel mills is pushing up prices for most processors, though they are quick to point out that demand is still much lower than pre-pandemic levels. Processors are also seeing a significant movement of volumes in the market, which is adding to the upward pressure in prices despite a fall in LME nickel.

Leave a Reply

Your email address will not be published.