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

US stainless steel processor buying prices increased by 1-3¢/lb in tandem with rising LME nickel prices on Monday.


The daily Davis Index for 304 and 316 scrap solids moved up by a penny to 52¢/lb delivered processor yard and 72¢/lb for single truckload, respectively.


Scrap 304 turnings increased by 1¢ to 48¢/lb, while 316 turnings surged by 3¢/lb to 64¢/lb. 


After two weeks of little to no change, processors are seeing an upward pressure on prices this week due to tight supply and rising LME nickel prices.


LME nickel prices went up by $260/mt from Friday with the official three-month LME Nickel contract closing at $12,510/mt on Monday. The official cash contract closed on Monday at $12,440/mt, up by $280/mt from Friday.


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