The daily Davis Index for Melting declined by Rs300/mt($3.96/mt) to Rs20,950/mt ex-Alang. Demand from rolling mill remained tepid hitting trades.
Shipbreakers were unsure of the direction prices are moving in. Since the past week, Melting prices have remained rangebound between Rs21,000-21,300/mt ex-Alang.
Recyclers continued to struggle with the unavailability of gas cutters slowing dismantling activity.
The daily Davis Indexes for 4Ani declined by Rs200/mt to Rs24,150/mt, 12Ani declined by Rs250/mt to Rs26,450/mt and 14Ani declined by Rs200/mt to Rs2,6550/mt ex-Alang.
Shipbreakers are waiting for prices to rise before offering more material. Prices are currently under pressure as many beached ships are yet to be recycled.
The daily Davis Index for HMS attachments declined by Rs300/mt to Rs20,950/mt and the index for 1kg plates declined by Rs400/mt to Rs22,150/mt.
Vessels to beach shortly at Alang port
|Aegean Leader||Car Carrier||13,160||Japan|
Till date 12 vessels have arrived at Alang port with the total tonnage of 100,400.03ldt, up by 29pc as compared to May.