Shipbreaking scrap prices on Friday were flat to up in Alang. Bearish sentiment in the Indian steel market has kept mills away from purchases. Many secondary mills are even mulling production cuts. But a shortage of material with yards supported prices.
The daily Davis Indexes for 6Ani and 14Ani were up by Rs300/mt ($4/mt) to Rs39,800/mt and Rs42,000/mt ex-Alang.
The index for 10Ani was unchanged at Rs41,500/mt ex-Alang, while that for 8Ani increased by Rs100/mt to Rs41,000/mt ex-Alang.
Ship plate prices also increased in line with rolling scrap, the index for 1kg plates was up by Rs300/mt to Rs35,100/mt ex-Alang while the index for 2kg plates was at Rs39,200/mt ex-Alang, also up by Rs300/mt.
Prices for Melting and HMS attachments were unchanged with their indexes flat at Rs33,600/mt and Rs34,600/mt ex-Alang, respectively.
($1=Rs74.73)