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

Shipbreaking scrap prices rose for the second day as demand from rolling mills in Gujarat remained firm. Supply on the other hand, remained low as only a few scrapped vessels have arrived in the past few weeks.


The daily Davis Index for 4Ani rose by Rs700/mt($9.37/mt) to Rs39,600/mt ex-Alang and the index for 6Ani rose by Rs1,200/mt to Rs41,600/mt ex-Alang. 


Alang Sosiya Truck Transportation Association wrote a letter to the rolling mills to pay 20pc extra transportation costs as fuel prices have increased. This could lead to a hike in the prices of materials supplied from Alang to the rolling mills.


The index for 10Ani rose by Rs1,000/mt to Rs43,600/mt ex-Alang and the index for 12Ani rose by Rs300/mt to Rs43,100/mt ex-Alang. Prices for ship plates also rose following the trend for re-rolling scrap. The daily Davis Index for 1kg plates rose by Rs2,000/mt to Rs38,000/mt ex-Alang and the index for 5kg plates rose by Rs700/mt to Rs42,000/mt ex-Alang.


Ingot makers in Mandi Gobindgarh also witnessed firm demand from end-users which supported shipbreaking scrap prices. 

The daily Davis Index for HMS attachments and melting rose by Rs1100/mt each to Rs37,000/mt and Rs36,000/mt ex-Alang respectively.




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