Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian shipbreaking scrap prices remained flat to down in Alang on Tuesday, amid low demand from rolling mills. The daily Davis Indexes for 4Ani,6Ani and 8Ani settled unchanged at Rs24,150/mt ($319.3/mt), Rs25,150/mt and Rs25,750/mt ex-Alang, respectively.


Very few trades were reported as mills continue to function at lowered capacity. Shipbreakers have lowered their offers for scrap by Rs100-200/mt to increase liquidity.


The daily Davis Indexes for 10Ani declined by Rs100/mt to Rs26,050/mt, 12Ani declined by Rs100/mt to Rs26,250/mt ex-Alang. The index for 2kg plates fell by Rs200/mt to Rs24,950/mt and that for 5kg plates declined by Rs200/mt to Rs25,350/mt ex- Alang.


A Japanese car carrier of 12,500ldt was bought at $285/ldt. It will take around five months to dismantle the vessel as yards still face a shortage of skilled labours.


Shipbreakers exercised caution while bidding for new vessels as they wait for finished steel demand to pick up.



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