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

US stainless steel processor buying prices were rangebound across most grades on declining LME nickel prices. 


The weekly Davis Index for 201 solids increased by 0.2¢/lb to 47¢/lb delivered processor yard and was down for 301 solids by 2¢/lb to 60¢/lb for single truckloads. 


Scrap 309 solids remained unchanged at 93.5¢/lb delivered and was up for 310 solids by 0.5¢/lb to $1.455/lb delivered. The Davis Index for 330 solids grew by 2.5¢/lb to $2.355/lb delivered processor yard. 


The index for 409/410 solids declined by $2.5/gt to $452.5/gt delivered processor yard and fell by $4.5/gt to $567/gt for 430 solids delivered. 


Stainless steel scrap prices for the 304 and 316 grades have inched up this week as the supply for these grades tightens. Still, prices for other grades have been rangebound in a mostly sideways LME Nickel market over the past week. Processors expect the domestic ferrous scrap market to settle sideways by the end of this week, which may prevent a drastic increase in stainless steel prices during the month. 


The daily Davis Index for scrap 304 solids remained at 74.8¢/lb delivered processor yard and increased for 316 solids by 0.8¢/lb to 97.8¢/lb for single truckloads. 


The index for scrap 304 turnings increased by 0.2¢/lb to 67.5¢/lb delivered and rose for 316 turnings by the same amount to 88¢/lb for single truckloads. 


LME nickel prices increased by $164/mt from Tuesday with the official three-month LME Nickel contract settling at $16,731/mt on Wednesday. The official cash contract closed Wednesday at $16,681/mt up by $161/mt from Tuesday.

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