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

Shipbreaking scrap prices in Alang were flat to up on Tuesday as yards halted work after supply of liquid oxygen for industrial use — required for gas cutting work — has come to a standstill. Few grades of re-rollable scrap went out of stock. 


The daily Davis Index for 4Ani rose rose by Rs400/mt ($5.35/mt) to Rs39,400/mt ex-Alang while the indexes for 10Ani and 12Ani settled unchanged at Rs39,800/mt and Rs40,300/mt ex-Alang, respectively.


Demand from the local mills remained firm, prompting shipbreakers to increase their offers. The daily index for 1kg plates rose by Rs500/mt to Rs38,500/mt and the index for 2kg plates rose by Rs300/mt to Rs39,800/mt ex-Alang.


Local mills are stocking up ferrous scrap inventories amid limited transportation activities, fearing a more stringent lockdown.

The daily Davis Index for HMS attachments and Melting rose by Rs500/mt each to Rs38300/mt and Rs37,300/mt ex-Alang, respectively.


Market participants expect scrap prices to continue its upward trend till supply of tonnage and oxygen cylinders is restored. 

($1= Rs74.64)

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