Shipbreaking scrap prices in India fell due to persistent lack of demand from rolling mills. The daily Davis Indexes for 0.5kg and 1kg plates fell by Rs350/mt ($4.79/mt) to Rs29,150/mt ($399.2/mt) ex-Alang and Rs29,050/mt ($397.9/mt) ex-Alang in absence of demand for finished steel.
The daily Davis Indexes for 6Ani, 8Ani and 10Ani dropped by Rs250/mt each to Rs31,250/mt ex-Alang, Rs33,500/mt ex-Alang and Rs33,750/mt ex-Alang, respectively, with limited buying from rolling mills.
Mills remain wary of purchasing at the current levels as they are uncertain about the demand for finished steel. Imported scrap prices have fallen by $41/mt since last Friday to $390/mt, impacting domestic prices. The daily index for HMS attachments and Melting dropped by 250/mt each to Rs29,050/mt ex-Alang and Rs28,050/mt ex-Alang, respectively.