US stainless steel processor buying prices remained unchanged for 304 scrap solids and turnings, while 316 solids rose and turnings dropped on Wednesday.

 

The daily Davis Index for 304 scrap solids remained at 50¢/lb delivered processor yard, while 316 solids increased by a penny to 71¢/lb for single truckloads. 

 

Scrap 304 turnings were flat at 45¢/lb, but 316 turnings declined by 1¢/lb to settle at 62¢/lb. 

 

The weekly Davis Index for scrap 201 solids remained at 30¢/lb while the Index for 301 solids was flat at 40¢/lb from last week. Scrap 309 solids rose by 3¢/lb to 78¢/lb, while scrap 330 solids rose by the same amount to $1.92/lb for single truckloads delivered process yard. 

 

LME nickel prices rose significantly by $200/mt from Tuesday, with the official three-month LME nickel contract closing at $13,075/mt on Wednesday. The official LME cash contract closed Wednesday at $13,005/mt, up by $205/mt from Tuesday. 

 

Market participants are seeing prices rise now as LME nickel prices increase. They are also seeing 316 exports prices moving upwards. 

 

 

Leave a Reply

Your email address will not be published.