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

Shipbreaking scrap prices in Alang declined for the second consecutive day on low demand from Mandi Gobindgarh. The daily Davis Index for Melting and HMS attachments declined by Rs900/mt ($12.02/mt) to Rs24,050/mt and Rs25,050/mt ex-Alang, respectively.


Shipbreakers have lowered their offers to clear the inventories. The daily Davis Index for 6Ani declined by Rs500/mt to Rs28,550/mt ex-Alang. The index for 8Ani declined by Rs1,350/mt to Rs29,000/mt ex-Alang.


Labourers are also returning to Alang after the lockdown, which will help boost the dismantling process.


Few trades were heard for 4Ani at the index price which declined by Rs250/mt to Rs27,700/mt ex-Alang. The daily Davis index for 14Ani declined by Rs600/mt to Rs30,450/mt ex-Alang.


Demand for steel plates has slowed down after prices rallied these last few weeks, but shipbreakers are still positive and believe that the market took a breather. Major steelmakers are also on the verge of increasing its prices by Rs500/mt in near term.


The index for 1kg plates declined by Rs1,000/mt to Rs25,250/mt ex-Alang while 5kg plates declined by Rs600/mt to Rs29,000/mt ex-Alang.


As per a shipbreaker, the market will remain calm for a while as monsoon has slowed down the logistics in the nearby cities.



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