The daily Davis Index for 4Ani fell by Rs1,100/mt ($15.07/mt) to Rs29,500/mt ($404.28/mt) ex-Alang on slack demand from the rolling mills in Mandi Gobindgarh and Gujarat. The daily Davis Index for 14Ani declined by Rs900/mt to Rs34,600/mt. Few trades were reported at the index price.
The daily Davis Indexes for 2kg and 5kg plates declined by Rs1,000/mt each to Rs30,600/mt and Rs31,800/mt ex-Alang, respectively, due to prolonged lull in construction activities. Shipbreakers noted that market sentiment looks bearish as uncertainty looms large.
The daily index for HMS attachments and Melting dropped by 1,000/mt each to Rs29,300/mt and Rs28,300/mt ex-Alang, respectively, amid limited buying at the index price.
A vessel named Senshu Maru with tonnage 30,699ldt arrived at Alang port on January 17. Three more vessels — Deroche, Hightower and Nereus — are yet to arrive at the port with a total tonnage of 6,987.3ldt.