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

Ship scrap prices increased in Alang amid tight supply. The daily Davis Index for HMS attachments and Melting, rose by Rs500/mt each to Rs37,700/mt and Rs36,700/mt ex-Alang, respectively, on Wednesday. 


Suppliers pushed up offers amid limited availability of tonnage at yards despite weak demand. The daily Davis Index for 4Ani rose Rs200/mt ($2.73/mt) to Rs39,200/mt ex-Alang and the index for 8Ani increased by Rs300/mt to Rs42,800/mt ex-Alang.


The index for 10Ani increased Rs300/mt to Rs43,300/mt ex-Alang and the index for 12Ani rose Rs300/mt to Rs43,500/mt ex-Alang.


Ship plate prices were mixed with the daily index for 1kg plates up by Rs200/mt to Rs37,800/mt ex-Alang and the index for 5kg plates up Rs100/mt to Rs41,800/mt ex-Alang. Prices varied according to the availability of grades at yards.


Market participants expect steady demand as mills return to refill scrap inventories in the coming days.



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