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

Indian shipbreaking prices remained low for the second consecutive week on slow demand from the rolling mills. The daily Davis Index for 4Ani declined by Rs300/mt ($3.94/mt) to Rs23,650/mt ex-Alang.


Shipbreakers opted to wait-and-watch as prices continued to decline. Labour shortages have delayed production ramp-up plans at most mills. 


The daily Davis Index for 6Ani declined by Rs125/mt to Rs24,450/mt, the index for 12Ani declined by Rs200/mt to Rs25,650/mt, 5kg plates fell by Rs200/mt to Rs24,950/mt.


With no demand for finished steel in the domestic market, market participants anticipate the scrap prices to fall further. The daily Davis Index for HMS attachments settled flat at Rs21,950/mt on Tuesday and the index for Melting fell by Rs100/mt to Rs21,150/mt. A few trades were reported.


A China-origin G/Cargo with a tonnage of 12,542 LDT is lying at Alang anchorage, total eight vessels have arrived this month with a total tonnage of 61,054 LDT.



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