US stainless steel processor buying prices dropped on Tuesday as the tightness in supply seen last week eased.

 

The daily Davis Index for 304 scrap solids dropped by a penny to 52¢/lb delivered processor yard while 316 solids decreased by 3¢ to 71¢/lb for single truckloads. 

 

The Index for scrap 304 turnings was unchanged at 47¢/lb, while 316 turnings declined by 3¢/lb to 62¢/lb. 

 

LME nickel prices increased by $30/mt from Monday with the official three-month LME Nickel contract settling at $13,185/mt on Tuesday. 

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