Shipbreaking scrap prices increased for the third week amid a gradual rise in demand from rolling mills in Gujarat.
The Davis Index for 6Ani rose by Rs700/mt ($9.34/mt) from Friday to Rs27,800/mt ex-Alang, few trades were heard at the index price.
The index for 4Ani rose by Rs450/mt to Rs27,000/mt ex-Alang, 10Ani rose by Rs450/mt to Rs29,450/mt ex-Alang.
Mills are focusing on exports and thus ramped up production to fulfill the rising demand. The index for 12Ani rose by Rs450/mt to Rs29,650/mt ex-Alang. Few transactions were heard for 14Ani at the index price, the index for the grade rose by Rs650/mt to Rs29,800/mt ex-Alang.
Demand for steel plates continued to surge from the construction sector, the index for 1kg plates increased by Rs800/mt to Rs24,950/mt and the index for 5kg plates was up by Rs300/mt to Rs27,950/mt ex-Alang.
The index for HMS attachments and Melting rose by Rs700/mt to Rs24,650/mt and Rs23,650/mt ex-Alang, respectively.
Two container vessels were sold recently, Ever Deluxe with 21731ldt $310/ldt and Uni Arise with 7,129lt at $268/ldt tonnages for HKC recycling.