US stainless steel processor buying prices remained unchanged on Friday despite an increase in LME nickel.

 

The daily Davis Index for 304 scrap solids remained at 48¢/lb delivered processor yard and 316 solids were at 68¢/lb for single truckloads. 

 

Scrap 304 turnings also held at 42¢/lb, while 316 turnings were unchanged at 59¢/lb. 

 

LME nickel prices finally saw an increase in the week with the official three-month LME Nickel contract settling at $12,760/mt on Friday, up by $135/mt. The official cash contract closed Friday at $12,675/mt, up by $140/mt from Thursday. 

 

Market participants suggest that the market has been flat currently with steady consumer demand holding them at current levels. 

Leave a Reply

Your email address will not be published.