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

Indian shipbreaking scrap continued its losing streak amid low demand from the rolling mills. The daily Davis Index Melting and HMS attachments declined by Rs600/mt ($8.27/mt) each to Rs30,000/mt and Rs31,000/mt ex-Alang, respectively.


Yard owners reduced their offers to attract bids. The daily Davis Index for 4Ani and 6Ani declined by Rs500/mt each to Rs32,000/mt and Rs32,800/mt ex-Alang, respectively. The index for 8Ani declined by Rs650/mt to Rs34,500/mt ex-Alang.


Demand for shipbreaking plates also remained sluggish and traders are expecting prices to remain under pressure in the coming days. 


The daily Davis Index for 1kg plates declined by Rs600/mt to Rs31,200/mt ex-Alang while the index for 2kg plates declined by Rs500/mt to Rs32,500/mt ex-Alang. 


Mandi Gobindgarh markets were silent due to the traders’ strike in protest of GST-related issues. The daily Davis Index for 14Ani and 12Ani declined by Rs650/mt each to Rs35,900/mt and Rs35,700/mt ex-Alang, respectively.


Declining international prices coupled with low demand in domestic market is likely to result in a further price drop. 


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