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

Shipbreaking scrap prices rose in India supported by an uptick in ingot prices in Mandi. Prices for ingots rose by Rs300-400/mt($3.96-5.28/mt) amid gradual improvement in demand from finished steel manufacturers.


The daily Davis Indexes for 8Ani rose by Rs300/mt to Rs26,050/mt and  6Ani rose by Rs200/mt to Rs25,350/mt ex-Alang.

Before the monsoon season reaches its peak, shipbreakers are looking to clear their inventories as demand usually declines during the rains. The daily Davis Index for 10Ani rose by Rs450/mt to Rs26,500/mt ex- Alang and a few trades were heard at the index price. The daily index for 12Ani rose by Rs450/mt to Rs26700/mt ex – Alang.


The daily Davis Index for Melting increased by Rs300/mt to Rs21,250/mt ex-Alang.


A car carrier named Arcadia highway of 12,500ldt is set to arrive at Alang. Trade for the vessel was heard at $285/ldt. Another car carrier named Pegasus highway was bought at $281/ldt. Pegasus has a tonnage of 12,750ldt and is expected to arrive in Alang next month.

($1= Rs75.69)

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