Shipbreaking prices in India remained mixed on Tuesday. The daily Davis Indexes for 0.5kg and 1kg plates rose by Rs200/mt ($2.74/mt) each to Rs27,400/mt ($375.60/mt) and Rs27,300/mt ($374.23/mt) ex-Alang, respectively.
Shipbreakers are reluctant to reduce offers in an anticipation of a rise in demand driven by infra push as announced in the Union Budget 2021 on Monday. A few deals concluded at the current price levels.
The daily Davis Index for 14Ani declined by Rs150/mt to Rs33,000/mt ex-Alang, respectively, amid limited activity.
The daily index for HMS attachments and Melting rose by Rs350/mt each to Rs27,400/mt and Rs26,400/mt ex-Alang, respectively. Limited deals were reported at the current price levels.
Shipbreakers are unable to gauge the price direction. Prices of imported scrap have dipped by $5-7/mt compared to Monday, but are expected to rise after Chinese Lunar New Year celebrations are over.