Shipbreaking scrap prices in Alang dropped on Tuesday amid weak demand from the rolling mills in Gujarat and the North. The daily Davis Indexes for 6Ani, 10Ani and 12Ani dropped by Rs400/mt ($5.39/mt) to Rs26,650/mt ($359.25/mt), Rs28,250/mt ($380.73/mt) and Rs28,500/mt ($384.10/mt) ex-Alang, respectively. A few deals concluded at the index price.
The daily Davis Index for 8Ani dropped by Rs350/mt to Rs27,750/mt, while 14Ani dropped by Rs550/mt to Rs28,500/mt ex-Alang with trades reported at the index price.
The construction and infrastructure industry continue to face headwinds. The daily Davis Indexes for 0.5kg plate and 1g plates declined by Rs500/mt, respectively to Rs25,600/mt and Rs25,500/mt ex-Alang respectively.
The index for HMS attachments and Melting declined by Rs400/mt each to Rs25,500/mt and Rs25,400/mt, respectively.
Shipbreaking prices are unlikely to rise even after Diwali, a shipbreaker told Davis Index.
($1=Rs74.19)