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

Prices of shipbreaking rolling scrap in India declined on sluggish demand from the rolling mills. Mills are still facing shortage of oxygen and demand from end-users is also low.


The daily Davis Indexes for 4Ani declined by Rs200/mt ($2.72/mt) to Rs26,000/mt ex-Alang, and for 6Ani declined by Rs500/mt to RS26,700/mt ex-Alang. A few trades were reported at the index price.


Alang is the worst-affected market as yards are bearing the cost of procuring oxygen that has shot up to Rs45/cbm from Rs16/cbm due to shortage.


The indexes for 10Ani and 12Ani declined by Rs500/mt each to Rs28,150/mt and Rs28,400/mt ex-Alang, respectively.


Demand for steel plates declined further on Wednesday with the Davis Indexes for 2kg plates declining by Rs900/mt to Rs26,300/mt ex-Alang and for 5kg plates dropping by Rs750/mt to Rs27,450/mt ex-Alang.


Mill refrained from buying raw materials till demand from end-users picks-up. The indexes for HMS attachments and Melting declined by Rs400/mt each to Rs24,600/mt and Rs23,600/mt, respectively.


Shipbreakers are still expecting market to remain under pressure till supply of oxygen cylinders gets back on track.



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