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

 

The daily Davis Index for 304 scrap solids remained at 48¢/lb delivered processor yard while it dropped by a penny for 316 solids to 68¢/lb for single truckloads.

 

The Index for scrap 304 turnings also dropped by a penny at 42¢/lb, while 316 turnings remained unchanged at 59¢/lb. 

 

LME nickel prices again dropped by $95/mt from Wednesday with the official three-month LME Nickel contract settling at $12,625/mt on Thursday. The official cash contract closed Tuesday at $12,535/mt, down by $95/mt from Monday.

 

Market participants are hearing multiple truckload deals delivered processor yards being purchased at 51¢/lb for scrap 304 solids and at 71¢/lb scrap 316 solids.

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