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

US stainless steel processor buying prices were rangebound as mill demand remains strong. 


The daily Davis Index for 304 solids rose by 0.3¢/lb to 89.2¢/lb delivered processor yard and was up for 316 solids by 0.2¢/lb to $1.162/lb for single truckloads.


Scrap 304 turnings grew by 0.2¢/lb to 85.3¢/lb delivered and inched down for 316 turnings by 0.1¢/lb to 1.063¢/lb, delivered processor yard. 


LME nickel prices were down by $700/mt from Friday with the official three-month LME Nickel contract settling at $18,380/mt on Monday. The official cash contract closed at $18,390/mt today, down by $505/mt from last week.


Robust mill demand since early July has kept stainless steel processor buying prices steady and with LME nickel prices correcting on Monday there appears to be a balance. Participants expect the demand trend to continue through this month and the quarter.

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