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.