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

Shipbreaking scrap prices in Alang declined on Monday amid low demand from the rolling mills in Mandi Gobindgarh. The daily Davis Index for HMS attachments declined by Rs500/mt ($6.57/mt) to Rs21,950/mt ex- Alang.


Shipbreakers adopted a wait-and-watch approach before bidding for new vessels as scrap prices are on a downtrend. The Davis Indexes for Melting declined by Rs500/mt to Rs20,950/mt, 1kg plates declined by Rs600/mt to Rs22,250/mt ex-Aland. The indexes for 4Ani and 6Ani settled flat at Rs24,150/mt and Rs25,150/mt ex-Alang respectively.


Demand for finished steel in the Indian market is still weak with a ripple effect on the raw material.  Offers for vessels thus declined below $300/ldt with ship owners diverting their vessels to bullish Bangladesh and Pakistan markets.


The Davis indexes for 14Ani rose by Rs100/mt to Rs26,450/mt , 12Ani rose by Rs100/mt to Rs26,350/mt ex- Alang.


Mills continued to face a shortage of labour which has impacted production. The rising COVID-19 cases also dampened sentiment in the shipbreaking market.

($1= Rs76.04)

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