Melting and HMS attachments prices in Alang declined on Tuesday amid low demand from mills in Gujarat. The daily Davis index for HMS attachments and melting declined by Rs500/mt ($6.71/mt) each to Rs35,500/mt and Rs34,500/mt ex-Alang, respectively.
Yards in Alang faced shortage of tonnages and increased asking prices for few grades. The daily Davis Index for 8Ani rose by Rs300/mt to Rs42,000/mt ex-Alang and the index for 10Ani rose by Rs100/mt to Rs42,400/mt ex-Alang.
Mills purchased raw material only on a need basis amid the ongoing monsoons and a fear of a potential third wave of COVID-19.
The daily index for 1kg plates declined by Rs500/mt to Rs35,700/mt ex-Alang and the index for 5kg plates declined by Rs200/mt to Rs41,100/mt ex-Alang.
At present there are three vessels anchored at Alang with a total of 13,811ldt. In June, 25 vessels beached at Alang and in July, so far six vessels have beached with 38,562ldt.