US stainless steel processor buying prices trended flat to down for most grades on Wednesday. 


The weekly Davis Index for 201 solids decreased by a penny to 27¢/lb delivered processor yard on Wednesday and fell for 301 solids by 3¢/lb to 37.9¢/lb for single truckloads. 


The index for scrap 309 solids increased to 70.8¢/lb from 70¢/lb delivered and moved up for 310 solids to $1.077/lb from $1.07¢/lb delivered. The Davis Index for 330 solids increased to $1.67/lb from $1.63/lb delivered processor yard. 


The index for 409/410 solids also declined by $27.3/mt to $261.9/gt delivered processor yard but remained unchanged for 430 solids at 378.3/gt delivered. 


Stainless steel buying prices have sideways to soft over the past few weeks on uncertainty over further shutdowns in August given the rising number of COVID-19 cases. That said, demand from the mills for now has stabilized keeping processor prices at current levels. 


The daily Davis Index for scrap 304 solids was unchanged at 49.6¢/lb delivered processor yard and was flat for 316 solids at 69.6¢/lb for single truckloads. 


The index for scrap 304 turnings remained at 46.6¢/lb and was held at 60¢/lb for 316 turnings.


LME nickel prices decreased by $107/mt from Tuesday with the official three-month LME nickel contract settling at $13,260/mt on Wednesday. The official cash contract closed Wednesday at $13,215/mt, down by $100/mt from Tuesday.

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