Indian shipbreaking scrap prices remained mixed on Wednesday amid weak demand from rolling mills in Mandi and Gujarat. The daily Davis Index for 0.5kg plates and 1kg plates Wednesday increased by Rs250/mt ($3.38/mt) each to Rs25,700/mt ($348.408/mt) ex-Alang and Rs25,600/mt ($347.052/mt) ex-Alang, respectively, with limited deals being heard.
A few deals were heard at the index price for 6Ani and 8Ani. The daily Davis Indexes for 6Ani declined by Rs126/mt to Rs27,400/mt ex-Alang and for 8Ani declined by Rs178/mt to Rs28,250 /mt ex-Alang.
Shipbreakers reduced their offers to clear off daily inventory. The index for 10Ani declined by Rs126/mt to Rs28,876/mt. The index for 12Ani declined by Rs101/mt to Rs29,050/mt and index for 14Ani declined by Rs26/mt to Rs29,150/mt. A few trades concluded at the index price.
Demand for certain ship plates continue to remain low. The index for 2kg plate and 5kg plate declined by Rs53/mt and Rs51/mt to Rs27,000/mt ex-Alang and Rs 28,000/mt ex-Alang, respectively.
Shipbreakers are waiting for demand to revive. HMS attachments and Melting declined by Rs97/mt each to Rs25,500/mt and Rs24,500/mt ex-Alang, respectively, amid shortage of material.
($1=Rs73.76)