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

Indian shipbreaking scrap prices declined on Thursday on relatively low demand from rolling mills. The daily Davis Index for 14Ani declined by Rs350/mt ($4.65/mt) to Rs28,650/mt ex-Alang. Mills stayed away from buying raw material as demand from end users has subdued over the week. The daily Davis Index for 12Ani declined by Rs200/mt to Rs28,650/mt. 


Yards in Alang are offering monsoon discounts by reducing prices by Rs100-200/mt to clear stocked inventories. The indexes for 6Ani declined by Rs50/mt to Rs26,950/mt ex-Alang, 1kg plates declined by Rs100/mt to Rs22550/mt, 2 kg plates declined by Rs100/mt to Rs26550/mt ex-Alang.


Demand from local Gujarat mills also declined as they expect second round of lockdowns due to increase in the number of COVID-19 infections in cities. Few trades were heard for 8Ani on Thursday. The daily index for 8Ani rose by Rs50/mt to Rs28,300/mt, transactions were reported at the index price.


The daily Davis Index for HMS attachments and Melting declined by Rs100/mt to Rs22350/mt and Rs21350/mt, respectively, ex-Alang.


Over 160,500mt of tonnage has been booked by the yards and the vessels are expected to arrive in the next few days, said a shipbreaker in Alang, adding that prices are expected to remain under pressure in the next few weeks.

($1= Rs75.2)

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