Shipbreaking scrap prices rose on Monday from Friday as shortage of tonnage and oxygen cylinders continued to plague dismantling activities in Alang. The index for HMS Attachments and Melting rose by Rs500/mt ($6.69/mt) each to Rs37,800/mt and Rs36,800/mt ex-Alang respectively. Re-rolling scrap prices also showed a uptick amid slowdown in gas cutting activities.
The daily index for 4Ani rose by Rs800/mt to Rs39,000/mt ex-Alang and the index for 6Ani rose by Rs600/mt to Rs39,500/mt ex-Alang. Mills are trying to stock their inventories and looking for scrap from the closest region to avoid longer transit time. Freight rates have also increased — impacting the input cost of the mills.
The daily index for 12Ani rose by Rs800/mt to Rs40,300/mt ex-Alang and the index for 14Ani rose by Rs1,100/mt to Rs40,500/mt ex-Alang.
Ship plate prices also rose, following a similar trend amid firm demand from the secondary mills. The daily Davis Index for 1kg plates rose by Rs500/mt to Rs38,000/mt ex-Alang and the index for 2kg plates rose by Rs600/mt to Rs39,500/mt ex-Alang.
Market participants are in wait-and-watch mode as buying is being done on a need basis amid stringent lockdown measures. One Reefer named China Frost with total tonnage of 3,431/ldt was bought recently at $502/ldt.
($1=Rs74.74)