US stainless steel processor buying prices remained unchanged on Thursday.

 

The daily Davis Index for 304 scrap solids remained at 54¢/lb delivered processor yard and 316 solids was flat at 74¢/lb for single truckloads. 

 

Scrap 304 turnings also held at 49¢/lb, while 316 turnings remained at 63¢/lb on Thursday. 

 

Processors expect buying prices to increase in tandem with the rise in LME Nickel, which moved in a narrow range on Thursday. 

 

LME nickel prices rose by $10/mt from Wednesday with the official three-month LME Nickel contract settling at $12,815/mt on Thursday. The official cash contract closed Thursday at $12,800/mt, up by $100/mt from Wednesday. 

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