Indian shipbreaking scrap prices rose on Monday due to healthy demand from re-rollers in Mandi Gobindgarh and Gujarat. Amid weak domestic steel demand, mills turned to export finished steel. The daily Davis Index for 4Ani rose by Rs1,150/mt ($15.64/mt) to Rs30,650/mt ($416.87/mt) ex-Alang.
The daily Davis Indexes for 12Ani and 14Ani rose by Rs900/mt each to Rs33,150/mt and Rs33,250/mt, ex-Alang, respectively.
Among other rolling scrap grades, the daily Davis Index for 2kg plates rose by Rs1,350/mt to Rs31,000/mt ex-Alang and the index for 5kg rose by Rs1,050/mt to Rs31,500/mt ex-Alang with a few transactions reported at the index price.
The daily Davis Index for HMS attachments and Melting rose by Rs1,200/mt each to Rs30,500/mt ex-Alang and Rs29,500/mt ex-Alang, respectively. Transactions were reported at the index price.
($1=Rs73.52)