The US stainless steel scrap processor buying prices remained unchanged on Thursday despite a significant drop in LME nickel. 

 

The daily Davis Index for 304 solids remained at 50¢/lb delivered processor yard on Thursday with 316 solids holding at 71¢/lb for single truckloads. Scrap 304 turnings also remained unchanged at 45¢/lb and while 316 turnings remained at 62¢/lb. 

 

The three-month LME nickel contract settled at $13,375/mt on Thursday with the LME cash nickel contract closing down at $13,300/mt. 

 

US mills have been busy according to market participants who are surprised that processor buying prices have remained steady despite the drop in LME nickel. 

 

 

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