The US stainless steel processor buying prices remained unchanged across all grades despite a slight increase in the LME nickel prices on Friday. 

 

The daily Davis Index for scrap 304 solids remained at 52.2¢/lb delivered processor yard and was flat for 316 at 73.3¢/lb for single truckloads.

 

The index for scrap 304 turnings was unchanged at 48.2¢/lb delivered processor yard and held at 66.5¢/lb delivered for 316 turnings. 

 

The LME nickel prices inched up by $56/mt from Thursday with the official three-month LME Nickel contract settling at $15,796/mt on Friday. The official cash contract closed Friday at $15,768/mt, up by $61/mt from Thursday.

 

The stainless-steel domestic market has been slowing down as the year-end approaches. Some processors expect the domestic market to remain slow for the rest of the year. However, the export market is picking up as countries in Europe, South America, and Asia increase their inquiries and purchase of the material, according to stainless scrap exporters.

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