Only a few yards in Alang remain functional and the resultant shortage of shipbreaking scrap has given its prices a lift.
The daily Davis Index for 8Ani rose by Rs250/mt ($3.38/mt) to Rs40,750/mt ($551.46/mt) ex-Alang and the index for 4Ani rose by Rs150/mt to Rs39,750/mt ex-Alang. Demand, however, remains slow as most steelmakers, especially the small-and-medium-scale ones have lowered their production.
A shortage oxygen is expected to keep recycling slow until the COVID-19 comes under control.
The daily Index for 1kg plates rose by Rs300/mt to Rs39,500/mt ex-Alang and the index for 5kg plates rose by Rs250/mt to Rs40,750/mt ex-Alang. But sales of shipbreaking plates were very limited.
The daily Davis Index for HMS attachments and Melting rose by Rs400/mt each to Rs39,400/mt and Rs38,400/mt ex-Alang, respectively, on healthy demand.