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

Shipbreaking scrap prices in Alang remained firm on Wednesday amid tight supply. Demand, however, is weak as rolling mills continued to buy material only on a need basis with demand for finished steel under pressure due to the ongoing monsoon season.


The daily Davis Index for 4Ani settled flat at Rs39,600/mt ($530/mt) ex-Alang, and the index for 6Ani rose by Rs100/mt to Rs41,700/mt ex-Alang.


Yard owners kept offers firm due to the limited availability of tonnages for demolition. The index for 8Ani rose by Rs200/mt to Rs43,300/mt ex-Alang, and the index for 10Ani rose by Rs200/mt to Rs43,800/mt ex-Alang.


Ship plate prices also rose in line with rolling scrap prices, and the daily Davis Index for 2kg and 5kg plates rose by Rs100/mt to Rs40,600/mt and Rs42,100/mt ex-Alang, respectively.


The daily Davis Index for HMS attachments and melting rose by Rs100/mt to Rs37,100/mt and Rs36,100/mt ex-Alang, respectively.

The continued shortage could keep ferrous scrap prices supported this week.



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