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

US stainless steel processor buying prices slightly declined across most grades on Monday.


The daily Davis Index for scrap 304 solids fell to 48.6¢/lb from 49¢/lb delivered processor yard, and decreased by a penny for 316 solids to 67.1¢/lb for single truckloads.


The index for scrap 304 turnings increased to 44¢/lb from 43.7¢/lb delivered, and declined for 316 turnings to 59.4¢/lb from 59.9¢/lb delivered. 


On Monday, LME nickel prices declined by $28/mt from Friday, with the official three-month LME nickel contract settling at $12,723/mt. The official cash contract closed Monday at $12,684/mt, decreasing by $25/mt from Friday.


Processor buying prices for stainless steel have risen during the last week because supply has been tight. Market participants have seen demand slowly return in conjunction with business reopenings. Although prices decreased on Monday in tandem with LME nickel prices, market participants expect prices to rise over the next few weeks. 

Leave a Reply

Your email address will not be published.