Prices of shipbreaking rolling scrap remained firm on Tuesday amid steady demand from the rolling mills. The daily Davis Index for 4Ani rose by Rs50/mt ($0.67/mt) to Rs26,050/mt ex-Alang on Tuesday. The index for 6Ani rose by Rs50/mt to Rs27,050/mt ex-Alang.
Mills are booking in limited quantity as demand from the end-users has not yet fully picked up. The index for 8Ani rose by Rs100/mt to Rs28,200/mt ex-Alang, with a few transactions reported at the index price.
Shipbreakers’ production activity is gradually normalising with the workforce returning from their hometowns.
The daily Davis Indexes for 10Ani rose by Rs100/mt to Rs28,700/mt ex-Alang and for 14Ani increased by Rs200/mt to Rs29,000/mt ex-Alang with few transactions reported at the index price.
Demand for steel plates is slowly picking-up from automobiles sector. The daily indexes for 2kg plates rose by Rs50/mt to Rs26850/mt ex-Alang, and for 5kg plates rose by Rs200/mt to Rs28,000/mt ex-Alang.
Mills have recently restocked ferrous scrap and waiting to get a clear price direction as rising number of COVID -19 cases is creating concern for mill owners. The index for HMS attachments and Melting declined by Rs50/mt each to Rs25,250/mt and Rs24,250/mt ex-Alang.