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

Shipbreaking scrap prices declined for the second consecutive day amid low buying from rolling mills in the North. The daily Davis Index for 4Ani declined by Rs450/mt ($6.12/mt) to Rs26,000/mt ex-Alang with a few trades reported at the index price.


The indexes for 6Ani declined further by Rs550/mt to Rs27,000/mt ex-Alang while 8Ani declined by Rs517/mt to Rs28,983/mt.

Shipbreakers have reduced their offers to clear available inventories and most of the bookings were from Gujarat-based market.


The index for 12Ani declined by Rs550/mt to Rs29,550/mt ex-Alang. The daily Davis Index for 14Ani declined by Rs500/mt to Rs29,550/mt ex-Alang.


Demand from the construction segment continues to be low due to heavy rains. The daily Davis Indexes for 2kg plates declined by Rs850/mt to Rs26,650/mt ex-Alang while 5kg plates declined by Rs850/mt to Rs27650/mt ex-Alang.


Mills are already stockpiled with raw material lately and are waiting for the demand to pick-up post monsoon. The daily Davis Index for HMS attachments and Melting declined by Rs300/mt each to Rs24,950/mt and Rs23,950/mt, respectively.


Shipbreakers are expecting prices to improve in the near term as major mills in India have increased their finished steel prices which will keep the raw material prices firm.



Leave a Reply

Your email address will not be published.