US stainless steel processor buying prices for 304 and 316 solids rose slightly on Wednesday, while they declined for turnings.


The daily Davis Index for 304 scrap solids increased to 39.5¢/lb from 39.1¢/lb delivered processor yard, and 316 solids rose slightly to 59.5¢/lb from 59.1¢/lb for single truckloads. 


Scrap 304 turnings, however, fell to 34¢/lb from 34.2¢/lb, and 316 turnings dropped to 52¢/lb from 52.2¢/lb. 


US stainless steel processor buying prices for 201 solids were flat at 27¢/lb delivered processor yard on Wednesday, while 301 solids dropped by 3.7¢ to 30.8¢/lb from last week for single truckloads. Scrap 309 solids decreased by 2.5¢ to 62.5¢/lb delivered, and 310 solids declined by 4.5¢ to 92.5¢/lb delivered. 330 solids decreased significantly by 11.5¢/lb to $1.445/lb delivered processor yard. 


Prices for 409 and 410 solids fell by $22.4/gt to $201.6/gt, while 430 solids increased by $44.8/gt to $268.8/gt from last week for single truckloads. 


LME nickel prices saw a significant decrease of $118/mt from Tuesday, with the official three-month LME nickel contract settled at $12,209/mt on Wednesday. The official cash contract closed the day at $12,135/mt, decreasing by $116/mt from Tuesday. 


Stainless steel processor buying prices have declined by 4-5c/lb over the last week, which market participants attributed to the lack of demand in the market, adding that they’re unsure of what May holds in store.


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