Indian shipbreaking scrap prices remained flat to down in Alang on Tuesday, amid low demand from rolling mills. The daily Davis Indexes for 4Ani,6Ani and 8Ani settled unchanged at Rs24,150/mt ($319.3/mt), Rs25,150/mt and Rs25,750/mt ex-Alang, respectively.
Very few trades were reported as mills continue to function at lowered capacity. Shipbreakers have lowered their offers for scrap by Rs100-200/mt to increase liquidity.
The daily Davis Indexes for 10Ani declined by Rs100/mt to Rs26,050/mt, 12Ani declined by Rs100/mt to Rs26,250/mt ex-Alang. The index for 2kg plates fell by Rs200/mt to Rs24,950/mt and that for 5kg plates declined by Rs200/mt to Rs25,350/mt ex- Alang.
A Japanese car carrier of 12,500ldt was bought at $285/ldt. It will take around five months to dismantle the vessel as yards still face a shortage of skilled labours.
Shipbreakers exercised caution while bidding for new vessels as they wait for finished steel demand to pick up.