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

US stainless steel processor buying prices increased across all grades on Friday. 


The daily Davis Index for scrap 304 solids increased to 50.4¢/lb from 50¢/lb delivered processor yard and rose for 316 solids to 70¢/lb from 69.9¢/lb for single truckloads.


The index for scrap 304 turnings increased to 45.8¢/lb from 45.5¢/lb and ticked up for 316 turnings to 60.5¢/lb from 60.4¢/lb delivered. 


LME nickel prices were down by $33/mt from Thursday with the official three-month LME nickel contract settling at $13,465/mt on Friday. The official cash contract closed Friday at $13,430/mt, down by $30/mt from Thursday.


Stainless steel processor buying pricing has trended flat for most of this week. Some processors are witnessing sluggish domestic mill demand and expect prices to drop further going into August. However, others expect prices to trend flat to up in anticipation of the ferrous market settling at stronger levels in August compared to July settled prices. 

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