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

US stainless steel processor buying prices fell slightly across all grades on Thursday.


The daily Davis Index for scrap 304 solids declined to 47.6¢/lb from 48.9c/lb delivered processor yard and dropped for 316 solids to 67.5¢/lb from 67.8¢/lb for single truckloads.


The index for scrap 304 turnings decreased to 44.5¢/lb from 44.6¢/lb delivered and fell for 316 turnings to 59.5¢/lb from 59.7¢/lb delivered. 


LME nickel prices increased by $253/mt from Wednesday with the official three-month LME Nickel contract settling at $12,873/mt on Thursday. The official cash contract closed Thursday at $12,823/mt, up by $268/mt from Wednesday.


Stainless steel buying prices have trended downwards despite a rise in LME nickel as participants anticipate a drop in demand. A sentiment of soft to sideways prices during the upcoming July domestic ferrous trading week is also adding to the downward pressure on stainless steel processor buying prices.

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