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

US stainless steel processor buying prices decreased for some grades as demand from mills for May orders remained weak on Friday. 


The daily Davis Index for scrap 304 solids increased to 40.5¢/lb from 40.3¢/lb delivered processor yard and dropped for 316 solids to 60.8¢/lb from 61.4¢/lb for single truckloads. 


The index for scrap 304 turnings also fell to 36.5¢/lb from 37.2¢/lb, while 316 turnings moved up to 53.3¢/lb from 52.6¢/lb. 


LME nickel prices decreased by $291/mt from Thursday with the official three-month LME Nickel contract settling at $11,916/mt on Friday. The official cash contract closed Friday at $11,853/mt, down by $1/mt from Thursday.


Processors remain concerned about the lack of demand from mills to fill May orders, which in turn has led to stainless steel buying prices dropping over the past two weeks with no clear indication of a rebound in the short term. 

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