Shipbreaking prices in India registered an uptick on Wednesday. The daily Davis Index for 12Ani rose by Rs250/mt ($3.43/mt) to Rs33,250/mt ($455.93/mt) ex-Alang. Shipbreakers are reluctant to lower offersas buyers from Maharashtra and Mandi Gobindgarh turned active due to shortage of scrap in those regions. Shipbreakers are anticipating a fall in prices after rebar prices in Gujarat fell by Rs500/mt to Rs41,650/mt ex-works on Wednesday, compared to Tuesday.
The daily indexes for 0.5kg and 1 kg plates rose by Rs300/mt each to Rs27,700/mt and Rs27,600/mt ex-Alang with limited activity at the current levels.
The daily index for HMS attachments and Melting rose by Rs100/mt each to Rs27,500/mt and Rs26,500/mt ex-Alang, respectively. Limited deals were reported at the current price levels. Shipbreakers said market is subdued and Alang is likely to witness shortfall of ships for at least next two months.
($1=Rs72.92)