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

Shipbreaking scrap prices declined on Friday on diminishing demand from the local and rolling mills from North. The daily Davis Index for 8Ani declined by Rs150/mt ($2/mt) to Rs28,150/mt ex-Alang.


Shipbreakers are worried the rise in COVID-19 cases which could shut down their operation, and so, are trying to clear inventories by reducing the offers. 


The indexes for 10Ani,12Ani and 14Ani declined by Rs100/mt to Rs28,450/mt, Rs28,550/mt and Rs28,550/mt, respectively, ex-Alang. 


Few trades were heard of 6Ani and the index declined by Rs50/mt to Rs26,900/mt ex-Alang and transactions were reported at the index price.


The daily Davis Index for 1kg plates declined by Rs100/mt to Rs22450/mt ex-Alang and the index for 2kg plates rose by Rs50/mt to Rs26600/mt ex-Alang.


The index for HMS attachments and Melting declined further by Rs100/mt to Rs22,250/mt and 21,250/mt ex-Alang, respectively. 


Ship buyers are expecting scrap tonnage of ships to increase in 2020, compared to last year’s 20.9mn dwt.


Ship owners have been sending ships for scrapping 6-12 months earlier than expected because low freight charges due to COVID-19 slowdown have decreased their margins. As a result, more container vessel and car carriers are being scrapped. On the other hand, dry bulk carrier had a good demand hence there is low availability of bulker ships for scrapping. 



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