Shipbreaking scrap prices fell on Tuesday pressured by low demand from the mills in Gujarat and Mandi Gobindgarh due to poor finished steel sales.
The daily Davis Index for 10Ani declined by Rs500/mt ($6.73/mt) to Rs42,400/mt ex-Alang and the index for 8Ani declined by Rs200/mt to Rs41,800/mt ex-Alang.
Shipbreakers reduced their offers on Tuesday with the supply of tonnages slowly increasing. While demand from the end-users continues to be low.
The index for 4Ani declined by Rs100/mt to Rs39,300/mt ex-Alang and the index for 12Ani declined by Rs200/mt to Rs42,700/mt ex-Alang.
Ship plate prices also followed a similar trend with the index for 5kg plates falling by Rs100/mt to Rs40,700/mt ex-Alang and the index for 1kg plates fell by Rs400/mt to Rs36,200/mt ex-Alang.
The daily Davis Index for HMS attachments and Melting declined by Rs300/mt each to Rs36,000/mt and Rs35,000/mt ex-Alang, respectively.