Indian shipbreaking scrap prices remained mixed Thursday amid low demand from the mills in the North as well as in Gujarat. The daily Davis Index 4Ani settled flat at Rs26,000/mt ($355/mt) ex-Alang.
Few transactions were heard at the index price for 6Ani and 8Ani. The index rose by Rs50/mt each to Rs27,200/mt and Rs28,300/mt, respectively.
Mills are preferring to book raw materials in staggered manner, the index for 10Ani rose by Rs50/mt to Rs28,800/mt ex-Alang.
Few shipbreakers have paused scrap generation due to shortage of oxygen and are in a wait-and-watch mode to get a clear price direction. The index for 12Ani and 14Ani settled at Rs29,000/mt and Rs29,100/mt ex-Alang respectively.
Demand for ship plates was low on Thursday amid slowdown in construction sector due to rise in COVID-19 cases and on the other hand liquidity issue. The index for 2kg and 5kg plates declined by Rs100/mt each to Rs26,800/mt and Rs27,800/mt ex-Alang respectively.
Prices of scrap was supported by shortage of material, despite staggered demand. The daily Davis Index for HMS attachments and Melting rose by Rs50/mt each to Rs25,500/mt and Rs24,500/mt ex-Alang, respectively.