Indian shipbreaking scrap prices Thursday rose supported by steady demand from mills based in Gujarat. The daily Davis Indexes for Melting increased by Rs200/mt ($2.67/mt) to Rs21,650/mt ex-Alang and for HMS attachments rose by Rs150/mt to Rs22,650/mt ex-Alang.
The daily Davis Index for 12Ani rose by Rs50/mt to Rs27300/mt with a few deals reported at the index price.
Demand for plates in Gujarat market remained steady as construction activity picked pace before peak monsoon season. The index for 5kg plates increased by Rs300/mt to Rs26,450/mt, 2kg plates rose by Rs100/mt to Rs25,950/mt ex-Alang.
In North, demand for shipbreaking scrap is still low as heavy rains hit Mandi Gobindgarh. Shipbreakers dropped offers for rolling scrap in an attempt to reduce piled up inventories before flooding hampers road transports in many parts of India.
The index for 6Ani declined by Rs200/mt to Rs25,950/mt ex-Alang, index for 10Ani declined by Rs100/mt to Rs27,050/mt and 8ani settled flat at Rs26,750/mt ex-Alang.
The daily Davis Index for 14Ani rose by Rs150/mt to Rs27400/mt ex-Alang.
Few rolling mills in Gujarat are buying less scrap as labor shortage persists. Also, a spike in COVID-19 infections in many parts of India has restrained mill operators from ramping-up produc.
($1= Rs74.80)