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

Shipbreaking prices in Alang rose for the second consecutive day on a shortage of material at the yards and a gradual increase in demand from rolling mills in North, as well as Gujarat. The daily Davis Index for 14Ani rose by Rs500/mt ($6.67/mt) to Rs29,850/mt ex-Alang. The index for 12Ani rose by Rs500/mt to Rs29,850/mt ex-Alang.


Shortage of labour continues to slow dismantling process at yards which are operating with 55-60pc labours. To compensate for the loss in production, shipbreakers have hiked their offers for rolling scrap.


The index for 4Ani rose by Rs400/mt to Rs27,700/mt ex-Alang, few transactions were reported at the index price. Index for 8Ani rose by Rs400/mt to Rs29,250/mt ex-Alang.


Demand for steel plates increased this week, however, a shortage of skilled gas cutters reduced the inventory of plates at yards. The index for 1kg plates rose by Rs400/mt to Rs24,850/mt and 2kg plates rose by Rs500/mt to Rs27,750/mt ex-Alang.


As steel mills return to normal capacity utilization levels, demand for domestic as well as imported scrap has increased in India. The index for HMS attachments and Melting rose by Rs438/mt to Rs24,588/mt and Rs23,588/mt ex-Alang, respectively on Wednesday.


Online auction of INS Viraat, the aircraft carrier of Indian Navy, concluded this week at $180.86/ldt. Approvals for scrapping the vessel are pending from Ministry of Defense.


Details of vessels lying at Alang anchorage 

Name of vesselTypeOriginldt
Baltic HighwayVehicle carrierJapan13,145
WAN CHAI 4ContainerJapan6,884


($1= Rs74.86)

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