Indian shipbreaking rolling prices declined due to low offers from scrap yards in Alang. The daily Davis Index for 14Ani declined by Rs450/mt ($6.02/mt) to Rs27,650/mt ex-Alang on Tuesday.
Demand from rolling mills remained subdued in Mandi Gobindgarh. Construction activities have slowed down due to arrival of monsoon which affected the demand for plates.
The daily Davis Index for 8Ani declined by Rs300/mt to Rs27,200/mt ex-Alang and few transactions were reported at the index price.
Shipbreakers are trying to clear their inventories due to monsoon. It has also been observed that labours are gradually returning to the yards.
The indexes for 4Ani declined by Rs300/mt to Rs25,150/mt ex-Alang, 10Ani declined by Rs300/mt to Rs27,450/mt, 12Ani declined by Rs400/mt to Rs27,550/mt ex-Alang.
Demand from the local mills in Gujarat has also slowed down. Rolling mills are buying material in low quantity and are not in a state to pile up inventories amid lockdown fear.
The index for 5kg plates declined by Rs100/mt to Rs26,550/mt ex-Alang.
Demand for HMS attachments and Melting remained firm on Tuesday as mills are preferring the easily available local scrap. The Index for HMS attachments and Melting rose by Rs75/mt to Rs22,350/mt and Rs21,350/mt ex-Alang.