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

US stainless steel processor buying prices rose for all grades on Monday. 


The daily Davis Index for 304 scrap solids rose by 1.5¢/lb to 45¢/lb delivered processor yard and increased for 316 solids to 64¢/lb from 63.6¢¢/lb for single truckloads. 


The index for scrap 304 turnings increased by a penny to 40¢/lb, while 316 turnings rose to 56¢/lb from 55.3¢/lb. 


LME nickel prices increase significantly by $367/mt from Friday with the official three-month LME Nickel contract settling at $12,334/mt on Monday. The official cash contract closed Monday at $12,255/mt, up by $368/mt from Friday. 


Tight supply and an increase on LME nickel have raised stainless steel processor buying prices for now. However, market participants expect a downward pressure on prices because of the dwindling demand from mills this month through the next, amid COVID-19 related global shutdowns.

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