Shipbreaking re-rolling scrap prices fell on Monday as demand from mills declined. The ongoing monsoons led to a slump in the demand from end-users. Shipbreakers thus reduced offers to boost trading.
The daily Davis Index for 4Ani declined by Rs300/mt ($4.03/mt) to Rs39,400/mt ex-Alang and the index for 6Ani declined by Rs400/mt to Rs41,300/mt ex-Alang.
The index for 10Ani declined by Rs300/mt to Rs44,000/mt ex-Alang and the index for 12Ani fell by Rs200/mt to Rs44100/mt ex-Alang.
Construction activities in Maharashtra decreased due to waterlogging and heavy rains pulling down demand for ship plates. The index for 2kg plates declined by Rs1,000/mt to Rs39,200/mt and the index for 5kg plates fell by Rs300/mt to Rs41,900/mt ex-Alang.
Alang recyclers have managed to secure some HKC green vessels, specialist stainless steel units, offshore vessels, reefers, and passenger units. Bangladesh continued to be a lead buyer.
The daily Davis Index for HMS attachments and melting rose by Rs100/mt to Rs37,800/mt and Rs36,800/mt ex-Alang, respectively.