Shipbreaking scrap prices dropped across grades on Wednesday as demand slowed down. The daily Davis index for 4Ani dropped by Rs450/mt ($6.17/mt) to Rs32,550/mt ($446.51/mt) ex-Alang amid sluggish demand from rolling mills in Mandi Gobindgarh and Gujarat.
On Wednesday, supply of materials is likely to be impacted as normal vehicle movement and business was affected for seven hours due to the Governor of Gujarat’s visit to Alang.
The daily Davis Indexes for 0.5kg and 1 kg plates declined by Rs550/mt each to Rs32,500/mt and Rs32,400/mt ex-Alang, respectively, with limited deals.
The daily Davis Index for HMS attachment and Melting fell by Rs450/mt each to Rs32,350/mt and Rs31,350/mt ex-Alang, respectively.