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

Indian shipbreaking prices rallied Tuesday amid increased demand from rolling mills in Mandi Gobindgarh and Gujarat. The daily Davis Index for Melting rose by Rs1,000/mt ($13.32/mt) to Rs23,150/mt ex-Alang. The index for HMS attachments increased by Rs1,000/mt to Rs24,150/mt ex-Alang.


Re-rolling scrap prices rose by Rs600-700/mt. The index for 10Ani Tuesday rose by Rs700 to Rs29,150 ex-Alang. The daily Davis Index for 12Ani rose by Rs650 to Rs29,350/mt ex-Alang. The index for 14Ani rose by Rs650/mt to Rs29,350/mt ex-Alang. 


Few trades were heard for 4Ani and 6Ani. The daily index for 4Ani settled at Rs27,300/mt, up by Rs600/mt while the index for 6Ani increased by Rs850/mt to Rs28,000/mt, transactions were reported at index price. 


Demand for steel plates increased pushing index prices up for 1kg plates by Rs1,000/mt to Rs24,450/mt and the index for 2kg plates rose by Rs300/mt to Rs27,250/mt. There is a shortage of steel plates which also supported higher prices. Manpower shortage, especially skiller gas cutters, is hampering dismantling process at yards and has resulted in a short supply of plates.


Shipbreakers have raised their offers on increased demand from mills. Mills are stocking up raw material inventories amid a shortage of domestic scrap which is likely to push prices higher in the coming weeks.



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