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

Shipbreaking scrap prices declined on Monday amid low demand from local mills, sales of finished steel remained low hence mills bought scrap on a need basis.


The daily Davis Index for 4Ani declined by Rs600/mt($8.20/mt) to Rs38,400/mt ex-Alang and the index for 6Ani declined by Rs700/mt to Rs40,300/mt ex-Alang.


Shipbreakers reduced their offers as demand remained sluggish and the index for 8Ani declined by Rs600/mt to Rs41,900/mt ex-Alang and the index for 10Ani declined by Rs600/mt to Rs42,400/mt ex-Alang.


Ship plate prices also followed a similar trend and the index for 1kg plates declined by Rs200/mt to Rs36,700/mt ex-Alang and the index for 5kg plates declined by Rs300/mt to Rs41,200/mt ex-Alang.


Market participants believed finished steel prices could stay under pressure in the near term and kept a close watch on markets. The daily Davis Index for HMS attachments and Melting declined by Rs100/mt each to Rs36,600/mt and Rs35,600/mt ex-Alang respectively.



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