Shipbreaking scrap prices experienced a steady climb on Friday. The daily Davis Index for 4Ani increased by Rs400/mt ($5.399/mt) to Rs28,000/mt ($377.76) ex-Alang while the index for 6Ani rose by Rs300/mt ($4.04/mt) to Rs28,500/mt ($384.49/mt) ex-Alang. A few trades were reported at the index price.
Mills are keen to book more material in anticipation of rise in demand from end-users. Among other rolling scrap grades, the daily Davis Index for 8Ani rose by Rs350/mt to Rs29,500/mt ex-Alang with a few trades reported at the index price.
The daily Davis Indexes for 2kg plates rose by Rs350/mt and for 5kg plates increased by Rs300/mt, to settle at Rs28,450/mt and Rs29,300/mt ex-Alang, respectively. This was backed by rising demand from the construction and infrastructure sector.
The Davis Index for HMS attachments and Melting rose by Rs200/mt each to Rs28,000/mt and Rs27,000/mt ex-Alang, respectively.
($1=Rs74.12)