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

US stainless steel processor buying prices decreased for 304 solids and turnings on Thursday. 


The daily Davis Index for scrap 304 solids declined to 44.3¢/lb from 44.8¢/lb delivered processor yard and dropped for 316 solids to 62.8¢/lb from 63.5¢/lb for single truckloads. 


The index for scrap 304 turnings also fell by 1.7¢/lb to 39.3¢/lb, but rose for 316 turnings by 2.9¢/lb to 52.9¢/lb. 


LME nickel prices increased by $419/mt from Wednesday with the official three-month LME Nickel contract settling at $12,827/mt on Thursday. The official cash contract closed Thursday at $12,762/mt, up by $3,427/mt from Wednesday. 


Market participants do not expect the current weak demand environment to rebound any time soon and expect a muted end to the second quarter despite an upward movement in LME nickel prices. 

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