Indian shipbreaking 8Ani prices rose on Friday as rolling mills in Mandi Gobindgarh ramped up their ingot production. Bullish imported ferrous scrap prices also supported the shipbreaking scrap grade prices.The daily Davis Index for 8Ani rose by Rs225/mt ($2.97/mt) to Rs25,700/mt ex- Alang. Transactions were heard at Rs25,600-25,800/mt.
The industry is presently working with local labourers to ensure continuity of operations.
Construction activities have resumed in the North and finished steel trades could see an uptick in the near term. The daily Davis Index for 10Ani rose by Rs254/mt to Rs26,042/mt ex- Alang. Transactions were heard at Rs26,000/mt.
A Vloc ship with 36,000mt displacement capacity has been sold in India at $268/ldt lately, as per a shipbreaker in Alang.
The daily Davis Index for 2kg plate rose by Rs362/mt to Rs25,450/mt, 5kg plate increased by Rs362/mt to Rs25,750/mt ex-Alang. The index for HMS attachments rose by Rs275/mt to Rs22,650/mt and the index for Melting rose by Rs234/mt to Rs22,109/mt ex-Alang.
Shipbreakers are expecting a rise in the number of vessels beaching at Alang amid a rise in end-user demand.