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

US stainless steel processor buying prices rangebound following tight supply and strong mill demand. 


The daily Davis Index for 304 solids inched down by 0.1¢/lb to 87.6¢/lb delivered processor yard and fell for 316 solids by 0.2¢/lb to $1.141/lb for single truckloads.


Scrap 304 turnings remained at 82.7¢/lb and was unchanged for 316 turnings at 1.043¢/lb, delivered processor yard. 


LME nickel prices were up by $375/mt from Thursday with the official three-month contract settling at $18,755/mt on Friday. The official cash contract closed at $18,673/mt today, up by $493/mt from yesterday.


A supply tightness in the Midwest region has held the momentum in prices for some time. However, some upper Midwest regions are seeing a couple of cents drop in the solids grades, although participants expect this decline to level out, provided demand remains robust.

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