Shipbreaking scrap prices rose for the second day as demand from rolling mills in Gujarat remained firm. Supply on the other hand, remained low as only a few scrapped vessels have arrived in the past few weeks.
The daily Davis Index for 4Ani rose by Rs700/mt($9.37/mt) to Rs39,600/mt ex-Alang and the index for 6Ani rose by Rs1,200/mt to Rs41,600/mt ex-Alang.
Alang Sosiya Truck Transportation Association wrote a letter to the rolling mills to pay 20pc extra transportation costs as fuel prices have increased. This could lead to a hike in the prices of materials supplied from Alang to the rolling mills.
The index for 10Ani rose by Rs1,000/mt to Rs43,600/mt ex-Alang and the index for 12Ani rose by Rs300/mt to Rs43,100/mt ex-Alang. Prices for ship plates also rose following the trend for re-rolling scrap. The daily Davis Index for 1kg plates rose by Rs2,000/mt to Rs38,000/mt ex-Alang and the index for 5kg plates rose by Rs700/mt to Rs42,000/mt ex-Alang.
Ingot makers in Mandi Gobindgarh also witnessed firm demand from end-users which supported shipbreaking scrap prices.
The daily Davis Index for HMS attachments and melting rose by Rs1100/mt each to Rs37,000/mt and Rs36,000/mt ex-Alang respectively.