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

Shipbreaking scrap prices rose on Friday amid supply crunch.Mills preferred to procure scrap on need basis due to sluggish steel demand from end-users


The daily Davis Index for 14Ani rose by Rs300/mt($4.02/mt) to Rs42,000/mt ex-Alang and the index for 6Ani rose by Rs200/mt to Rs39,800/mt ex-Alang.


Yards raised offers for the re-rolling scrap as availability of tonnages remained low, the daily Davis Index for 8Ani rose by Rs300/mt to Rs41300/mt ex-Alang and the index for 12Ani rose by Rs300/mt to Rs42,000/mt ex-Alang.


Ship plate prices were up following the re-rolling scrap trend and  the daily Davis Index for 1kg plates rose by Rs400/mt to Rs35,200/mt ex-Alang. The index for 5kg rose by Rs200/mt to Rs40,200/mt ex-Alang.


Mills focussed on exports as domestic demand remained low. Ferrous scrap prices could, therefore, have a limited downfall.  


The daily Davis Index for HMS attachments and melting rose by Rs400/mt each to Rs35,000/mt and Rs34,000/mt ex-Alang respectively.



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