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

US stainless steel processor buying prices dropped amidst declining LME nickel prices on Wednesday. 


The weekly Davis Index for 201 solids decreased by 1.1¢/lb to 49.2¢/lb delivered processor yard and was down for 301 solids by 2.2¢/lb to 60.6¢/lb delivered for single truckloads. 


Scrap 309 solids dropped by 0.5¢/lb to 91.7¢/lb delivered and fell for 310 solids by 2.7¢/lb to $1.393/lb delivered. The weekly Davis Index for 330 solids declined by 8.8¢/lb to $2.239/lb delivered processor yard. 


The index for 409/410 solids was up by $14.5/gt to $475.3/gt delivered processor yard, and it decreased by $9/gt to $614.3/gt for 430 solids delivered. 


Stainless steel processor buying prices have gradually declined through the week on softening demand from domestic mills and a rangebound LME nickel market. Buying sentiment is cautious to avoid inventory over-stocking, as demand isn’t expected to increase in the near term. 


The daily Davis Index for scrap 304 solids fell by 1.5¢/lb to 72.8¢/lb delivered processor yard and decreased for 316 solids by 0.1¢/lb to 94.2¢/lb for single truckloads. 


Scrap 304 turnings was down by 0.9¢/lb to 70.4¢/lb delivered and fell for 316 turnings by 0.2¢/lb to 84.3¢/lb for single truckloads. 


LME nickel prices decreased by $77/mt from Tuesday, with the official three-month LME Nickel contract settling at $16,122/mt on Wednesday. The official cash contract closed at $16,085/mt on Wednesday down by $59/mt from the previous day. 

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