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

Shipbreaking scrap prices rose on Tuesday as demand from mills in Gujarat gained momentum and trades increased.

 

The daily Davis Index for 4Ani rose by Rs300/mt ($4.04/mt) to Rs38,300/mt ex-Alang and the index for 6Ani rose by Rs700/mt to Rs40,500/mt ex-Alang.

 

Mills have started building raw material inventories as they expect steel demand to increase amid receded monsoons resulting in resumed construction activities.

 

The index for 8Ani rose by Rs400/mt to Rs42,100/mt ex-Alang and the index for 10Ani rose by Rs300/mt to Rs42,600/mt ex-Alang.

 

Ship plate prices also rose in a similar trend and the index for 1kg plates rose by Rs500/mt to Rs36,200/mt ex-Alang and the index for 5kg plates rose by Rs400/mt to Rs41,200/mt ex-Alang.

 

Availability of scrap remained limited in the domestic markets leading to a hike in scrap offers. The daily Davis Index for HMS attachments and Melting rose by Rs500/mt each to Rs36,100/mt and Rs35,300/mt ex-Alang, respectively.

 

($1= Rs74.2)

Leave a Reply

Your email address will not be published.