Indian shipbreaking Melting scrap prices in Alang fell on Thursday amid subdued demand from rolling mills. Activity in these mills was slow as they faced a shortage of labour.
The daily Davis Index for Melting fell by Rs75/mt($0.99/mt) to Rs21,875/mt ex-Alang due to thin trades and low demand from ingot manufacturers.
Post cyclone Nirsarga, shipbreakers are slowly resuming activity. Yards are making arrangements to bring back labourers who have travelled to their hometowns since COVID-19 lockdown.
Offers for 2kg plates fell by Rs100/mt on Thursday and the daily Davis Index for 2kg plate declined by Rs87/mt to Rs25,088/mt ex- Alang.
The daily Davis Indexes for 4Ani fell by Rs25/mt to Rs24,475/mt, 6Ani declined by Rs75/mt to Rs24,975/mt, and HMS attachments fell by Rs75/mt to Rs22,375/mt ex-Alang.
Recent deals concluded in demolition
- Container ship from Taiwan at $321/ldt
- Container ship from Korea at $324/ldt
- Bulk carrier ship from Japan $304/ldt
- Car carrier ship from Japan $295/ldt
Yard owners are waiting for rolling mills in Mandi Gobindgarh to function at usual levels, for a demand boost for re-rolling scrap in Alang.