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

US stainless steel processor buying prices rose on Monday following growing demand. 


The daily Davis Index for 304 solids rose by 1¢/lb to 90.8¢/lb delivered processor yard and increased for 316 solids by 0.3¢/lb to $1.195/lb for single truckloads.


Scrap 304 turnings grew by 2.8¢/lb to 86.8¢/lb and increased for 316 turnings by 1.5¢/lb to 1.102¢/lb, delivered processor yard. 


LME nickel prices were down by $130/mt from Friday with the official three-month LME Nickel contract settling at $19,555/mt on Monday. The official cash contract closed at $19,505/mt today, down by $145/mt from last week.


Supply tightness and a leveling off in demand from early August appear to have pushed stainless steel processor buying prices upward. Participants are, however, anticipating demand to drop next month.







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