Shipbreaking scrap prices rose on Monday compared to Friday, amid tight supply. Dismantling activity is still slow in Alang as industrial oxygen supply continues to be diverted to hospitals.
The daily Davis Index for 8Ani rose by Rs1,200/mt ($16.53/mt) to Rs39,900/mt ex-Alang and the index for 10Ani rose by Rs1,000/mt to Rs40,000/mt ex-Alang.
Local rolling mills were buying on a need basis just to complete their daily production needs. The daily Davis Index for 12Ani rose by Rs900/mt to Rs39,900/mt ex-Alang and the index for 14Ani rose by Rs1,000/mt to Rs40,000/mt ex-Alang.
Low availability of tonnage in Alang kept ship plates prices firm. The index for 1kg plates rose by Rs200/mt to Rs36,800/mt ex-Alang and the index for 2kg plates rose by Rs700/mt to Rs39,400/mt ex-Alang.
Ship Recycling Industries Association of India (SRIA) has requested thr government to lift the ban on oxygen cylinders and normalize its supply to the industries, since adequate oxygen cylinders are now available for hospitals.
Market participants are waiting for lockdown restrictions to be eased or lifted as number of COVID-19 cases is reducing. Most states have extended the lockdown by a week or two.
The index for HMS attachments and Melting rose by Rs200/mt each to Rs36,700/mt and Rs35,700/mt ex-Alang, respectively.