Shipbreaking scrap prices in India rose on Friday amid high offers. A rise in ingot prices on the latter part of Thursday in Mandi Gobindgarh gave scrap prices a lift. The daily Davis Index for 4Ani rose by Rs400/mt ($5.29/mt) to Rs24,550/mt ex-Alang.
The daily Davis Indexes for 6Ani rose by Rs400/mt to Rs25,550/mt, 8Ani rose by Rs300/mt to Rs26,250/mt, 12Ani rose by Rs400/mt to Rs26,850/mt ex- Alang.
Only a few trades were reported on Friday and shipbreakers are expecting scrap prices to decline in the near term. The daily Davis Index for HMS attachments rose by Rs150/mt to Rs22100/mt. Trades were heard at the index price. The index for Melting rose by Rs150/mt to Rs21,100/mt.
The indexes for 1kg plates rose by Rs200/mt to Rs22,350/mt and 5kg plates rose by Rs300/mt to Rs25,850/mt ex -Alang
Recyclers are trying to expedite their activity and liquidate inventories before the monsoons reach their peak and in turn, weigh down demand.
Two vessels named Kokura a 34,318ldt container vessel from Denmark and Euro Spirit a car carrier of 12,739ldt are likely to arrive at Alang port soon. This month, around 19 vessels have arrived at Alang with a total tonnage of 203,353ldt, a rise of 160pc compared to May.