Shipbreaking scrap prices rose for the second consecutive day on an uptick in demand from the local as well as rolling mills in North. The daily Davis Indexes for Melting and HMS attachments rose by Rs500/mt ($6.69/mt) to Rs24,150/mt and 25,150/mt ex-Alang, respectively.
Few trades were heard at the index price for 4Ani and 8Ani, the index for 4Ani rose by Rs600/mt to Rs27,600/mt ex-Alang and the index for 8Ani rose by Rs500/mt to Rs29,600/mt ex-Alang.
Demand for semis and finished steel in the local market has improved, and prices are expected to rise further in the near week. Skilled workers are returning post the pandemic worries, which will speed-up dismantling activities at yards.
The index for 12Ani rose by Rs500/mt to Rs30,150/mt ex-Alang, index for 14Ani increased by Rs450/mt to Rs30,250/mt ex-Alang.
Prices for ship plates continued to rise and remained healthy amid demand from the local Gujarat region. Demand from Mumbai has slowed down due to heavy rainfall and delayed logistics services.
The daily Davis Index for 1kg plates rose by Rs600/mt by Rs25,550/mt ex-Alang, the index for 5kg plates increased by Rs550/mt to Rs28,500/mt ex-Alang.
Recyclers are aggressively bidding for tonnage arriving from the far-east to the sub-continent. These vessels are designated for green recycling.