Shipbreaking prices remained firm on Thursday amid a continued slowdown in dismantling work due to a shortage of oxygen cylinders. Rolling mills reported buying on a need basis as demand from the end-users is yet to pick up. The daily Davis Index for 8Ani on Thursday rose by Rs100/mt ($1.37/mt) to Rs39,300/mt ex-Alang and the index for 6Ani settled flat at Rs39,200/mt ex-Alang.
Demand from the infrastructure and automobile sector remained low coupled with tight scrap availability which supported ship plates prices. The daily Davis Index for 8Ani rose by Rs100/mt ($1.37/mt) to Rs39,300/mt ex-Alang and the index for 6Ani settled flat at Rs39,200/mt ex-Alang.
The daily Davis Index for 1kg plates settled flat at Rs37,500/mt ex-Alang and the index for 2kg plates rose by Rs100/mt to Rs39,300/mt ex-Alang.
Market participants are still unsure about the price direction due to mixed global cues, hence, a majority of the mills are reluctant to procure raw materials.
The daily Davis Index for HMS attachments and Melting rose by Rs100/mt each to Rs37,300/mt and Rs36,300/mt ex-Alang, respectively.
($1= Rs72.56)