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

US stainless steel processor buying prices trended flat across all grades on Friday as demand weakened.


The daily Davis Index for scrap 304 solids rose by 0.2¢/lb to 74.5¢/lb delivered processor yard and inched up for 316 solids by 0.3¢/lb to 95.8¢/lb for single truckloads.


Scrap 304 turnings increased by 0.2¢/lb to 70.5¢/lb and climbed by the same amount for 316 turnings to 87.7¢/lb delivered processor yard.


LME nickel prices rose by $362/mt from Thursday with the official three-month LME Nickel contract settling at $16,459/mt on Friday. The official cash contract closed Friday at $16,411/mt, up by $362/mt from Thursday.


Trades in the stainless-steel market were subdued on Friday as demand weakened and buyers purchased volumes cautiously to avoid excess inventory due to the market trend that is expected to soften moving into May.

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