Daily US processor buying prices increased for 316 scrap solids and turnings while they declined or remained flat for 304 solids and turnings, respectively, on Tuesday as market participants returned after a long weekend. 

 

The Davis Index for 304 scrap solids decreased by 3-4¢/lb to 49¢/lb delivered processor yard from Friday while 316 solids moved up by a penny to 70¢/lb for single truckloads. 

 

Scrap 304 turnings remained unchanged at 45¢/lb while 316 turnings moved up by 2-3¢/lb to 62¢/lb from Friday, Jan 17.

 

LME nickel prices dropped by $80-95/mt from Monday with the official three-month LME nickel contract settling at $13,840/mt on Tuesday and the LME cash contract nickel settling at $13,750/mt.

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