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

Shipbreaking scrap prices in India rose in spite of sluggish demand from the rolling mills on Monday. The daily Davis Index for 4Ani rose by Rs1,000/mt ($13.6/mt) to Rs33,100/mt ($450.17/mt) and ex-Alang on global cues. 


The daily Davis Indexes for 0.5kg and 1kg plates rose by Rs1,050/mt each to Rs32,900/mt and Rs33,500/mt ex-Alang, respectively, with limited deals reported. Shipbreakers are unwilling to reduce offers as they are expecting a further rise in prices. Moreover, finished steel prices have also gone up in few regions like Mandi Gobindgarh and Mumbai. The finished steel prices in Mumbai rose by Rs600/mt to Rs46,300/mt on Monday, compared to Friday.


The daily Davis Index for HMS attachment and Melting rose by Rs1,050/mt each to Rs32,800/mt and Rs31,800/mt ex-Alang, respectively, amid healthy demand.






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