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

US stainless steel processor buying prices inched down across all grades on Monday. 


The daily Davis Index for scrap 304 solids fell by 0.2¢/lb to 73.8¢/lb delivered processor yard and dropped for 316 solids by the same amount to 95.8¢/lb for single truckloads.


The index for scrap 304 turnings declined by 0.8¢/lb to 71¢/lb delivered and decreased for 316 turnings by 0.2¢/lb to 86.8¢/lb delivered processor yard. 


LME nickel prices fell by $10/mt from Friday with the official three-month LME Nickel contract settling at $16,302/mt on Monday. The official cash contract closed Monday at $16,259/mt, up by $4/mt from Friday.


Uncertainty in the stainless steel scrap market persists due to the price fluctuations in the LME Nickel market and a gradual decline in demand from stainless steel mills. Processors have become cautious with their purchases to avoid overextending themselves in this market environment. 

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