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

US stainless steel processor buying prices increased for 304 and 316 solids on Thursday. 


The daily Davis Index for scrap 304 solids ticked up to 47.8¢/lb from 47.5¢/lb delivered processor yard and rose for 316 solids by 1.9¢/lb to 67.9¢/lb for single truckloads. 


The index for scrap 304 turnings decreased by 2.2¢/lb to 42.6¢/lb and rose for 316 turnings by 4.5¢/ln to 56.8¢/lb. 


LME nickel prices decreased by $130/mt from Wednesday with the official three-month LME Nickel contract settling at $12,818/mt on Thursday. The official cash contract closed Thursday at $12,760/mt, down by $140/mt from Wednesday.


Stainless-steel buying prices have increased gradually over the past couple of weeks after the markets picked up on account of automotive manufacturing restarts. However, some processors are of the opinion that prices might fall if the ferrous market declines next month.

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