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

Indian shipbreaking scrap prices Friday remains mixed amid weak demand from rolling mills in the north. The daily Davis Index for 4Ani rose by Rs150/mt ($2.03/mt) to Rs26,100/mt ex-Alang with some buying from Gujarat-based mills. The index for 10Ani declined by Rs50/mt to Rs28,000/mt. Few transactions were reported for both the grades.


Shipbreakers are still struggling with the supply of oxygen. But they continue to sell available inventory to local mills.


The index for 6Ani rose by Rs250/mt to Rs26,700/mt ex-Alang, trades were reported at the index price.


Demand for plates from the North-based re-rollers remains weak amid lower sales to end-users. The index for 1kg plates declined by Rs650/mt to Rs25,000/mt ex-Alang. Mills in Gujarat booked ship plates in a staggered manner to fulfil their daily production requirements. The index for 2kg and 5kg plates rose by Rs150/mt each to Rs26,500/mt and Rs27,500/mt ex-Alang, respectively.


Shortage of ferrous scrap and gradual rise in demand from local mills lifted HMS attachments and Melting scrap prices in Alang, the index for HMS attachments and Melting rose by Rs200/mt each to Rs24,750/mt and Rs23,750/mt ex-Alang, respectively.


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