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

US stainless steel processor buying prices increased this week following strong mill demand. 


The daily Davis Index for 304 solids rose by 0.3¢/lb to 89.1¢/lb delivered processor yard and was up for 316 solids by 0.5¢/lb to $1.162/lb for single truckloads.


Scrap 304 turnings grew by 0.2¢/lb to 84.6¢/lb delivered and increased for 316 turnings by 0.1¢/lb to 1.059¢/lb, delivered processor yard. 


LME nickel prices were up by $160/mt from Wednesday with the official three-month contract settling at $18,745/mt on Thursday. The official cash contract closed at $18,695/mt today, up by $6/mt from yesterday.


Continued robust demand and a prolonged supply tightness have kept stainless steel processor buying prices upward again this week. LME nickel prices also seem to be holding momentum over the last few days.

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