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

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


The daily Davis Index for 304 scrap solids dropped by almost a cent to 42¢/lb from 42.9¢/lb delivered processor yard and fell for 316 solids to 63.6¢/lb from 64¢/lb for single truckloads.


The index for scrap 304 turnings dropped to 37¢/lb from 37.9¢/lb, while 316 turnings increased to 51¢/lb from 50.1¢/lb on Thursday.

LME nickel prices increased by $26/mt from Wednesday with the official three-month LME Nickel contract settling at $11,523/mt on Thursday. The official cash contract closed on Thursday at $11,457/mt, up by $32/mt from Wednesday.


Some market participants experienced volatile processor buying prices this week as grades that rose to as much as 44¢/lb on Monday dropped by 4¢ by Wednesday to 41c/lb, before rising slightly again on Thursday. Processors are keeping a close watch on these movements to determine the way forward in the short term.

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