Shipbreaking scrap prices declined on Tuesday amid weak demand. Trades have thinned as the number of COVID-19 cases is rising again in some parts of India, which has adversely affected market sentiments.
The daily Davis Index for 4Ani dropped by Rs600/mt ($8.28/mt) to Rs31,500/mt ($435.18/mt) ex-Alang as demand dwindled from the rolling mills in Mandi Gobindgarh and Gujarat.
The daily indexes for 0.5kg plates and 1kg plates declined by Rs350/mt each to Rs30,950/mt and Rs30,850/mt ex-Alang, respectively, with few deals reported at index price.
The daily Davis Index for HMS attachment and Melting fell by Rs200/mt each to Rs30,850/mt and Rs29,850/mt ex-Alang, respectively.