Indian shipbreaking rolling scrap prices in Alang fell on Tuesday on the back of weak demand. Severe shortage of labour and transportation were major challenges faced by rolling mills and shipbreaking yards.
The daily Davis Index for 4Ani declined by Rs500/mt ($6.64/mt) to Rs24,500/mt ex-Alang as transactions were heard at the index price. The index for Melting rose by Rs150/mt to Rs21,950/mt ex Alang.
Here are the recent deals that concluded in the demolition market
1. 5,000mt container ship at $300/ldt
2. 22,000mt container ship at $322/ldt
3. 7,000mt container ship at $330/ldt
4. Tanker 8,000mt at $313/ldt
5. 12,000mt Heavy Lift carrier at $317/ldt
6. 6,000mt container at $307/ldt
The daily Davis Index for 8Ani declined by Rs150/mt to Rs25,450/mt ex-Alang. The price for 0.5kg plate fell by Rs50/mt to Rs23,050mt/mt. The index for HMS attachments fell by Rs150/ to Rs22,450/mt ex-Alang.
Shipbreaking process at Alang is likely to be halted ahead of the Nisarga cyclone, which is expected to make landfall on Wednesday, June 3. Workers would be evacuated and moved to safer places as per the warning issued by the India Meteorological Department (IMD).
Shipbreakers are expecting the demand for rolling scrap to rise ahead of monsoon, as rolling mills have resumed production.
($1=Rs75.2)