US stainless steel processor buying prices dropped across some grades and increased across others amid varying market demand.
The weekly Davis Index for 201 solids decreased to 28¢/lb from 28.2¢/lb delivered processor yard on Wednesday and rose for 301 solids by 2.4¢/lb to 40.9¢/lb for single truckloads.
The index for scrap 309 solids increased to 70¢/lb from 69.4¢/lb delivered and moved up for 310 solids to $1.07/lb from $1.06/lb delivered. The Davis Index for 330 solids decreased to $1.63/lb from $1.68/lb delivered processor yard.
The index for 409/410 solids also declined by $5.3/mt to $289.2/gt delivered processor yard but rose for 430 solids by $5.4/gt to $378.3/gt delivered.
Demand from domestic mills was mixed with some processors witnessing good demand while others saw sluggish sales through the week as the ferrous market dropped despite robust LME nickel prices. Some processors expect demand to settle and the market to stabilize over the next few weeks.
The daily Davis Index for scrap 304 solids decreased to 49.9¢/lb from 50.1¢/lb delivered processor yard and fell for 316 solids to 68.8¢/lb from 69.4¢/lb for single truckloads.
The index for scrap 304 turnings remained at 45.9¢/lb and fell for 316 turnings to 61.4¢/lb from 61.5¢/lb.
LME nickel prices decreased by $12/mt from Tuesday with the official three-month LME nickel contract settling at $13,555/mt on Wednesday. The official cash contract closed Wednesday at $13,512/mt, down by $6/mt from Tuesday.