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

Shipbreaking scrap prices rose for the third consecutive day due to firm demand from mils in Gujarat. 


The daily Davis Index for 4Ani rose by Rs500/mt ($6.73/mt) to Rs38,700/mt ex-Alang and the index for 6Ani rose by Rs400/mt to Rs40,900/mt ex-Alang.


Scrap supply remained tight in Gujarat which led shipbreakers to raise offers, the index for 10Ani increased by Rs200/mt to Rs43,000/mt ex-Alang and the index for 14Ani rose by Rs300/mt to Rs43,300/mt ex-Alang.


Construction activities resumed as monsoon retreated, as a result, demand for steel increased. The index for 1kg plates rose by Rs600/mt to Rs37,400/mt ex-Alang and the index for 5kg plates rose by Rs500/mt to Rs41,800/mt ex-Alang.


Scrap prices could remain firm amid limited availability, the daily Davis Index for HMS 1&2 (80:20) rose by Rs500/mt each to Rs37,300/mt and Rs36,300/mt ex-Alang, respectively.



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