Shipbreaking scrap prices in Alang were flat to up on Tuesday as yards halted work after supply of liquid oxygen for industrial use — required for gas cutting work — has come to a standstill. Few grades of re-rollable scrap went out of stock.
The daily Davis Index for 4Ani rose rose by Rs400/mt ($5.35/mt) to Rs39,400/mt ex-Alang while the indexes for 10Ani and 12Ani settled unchanged at Rs39,800/mt and Rs40,300/mt ex-Alang, respectively.
Demand from the local mills remained firm, prompting shipbreakers to increase their offers. The daily index for 1kg plates rose by Rs500/mt to Rs38,500/mt and the index for 2kg plates rose by Rs300/mt to Rs39,800/mt ex-Alang.
Local mills are stocking up ferrous scrap inventories amid limited transportation activities, fearing a more stringent lockdown.
The daily Davis Index for HMS attachments and Melting rose by Rs500/mt each to Rs38300/mt and Rs37,300/mt ex-Alang, respectively.
Market participants expect scrap prices to continue its upward trend till supply of tonnage and oxygen cylinders is restored.