The daily Davis Index for 6Ani fell by Rs900/mt ($12.33/mt) to Rs29,400/mt ($402.91/mt) ex-Alang amid sluggish demand from rolling mills in Mandi Gobindgarh and Gujarat. Limited deals were reported at the current price levels.
The index for 5kg plates declined by Rs800/mt to Rs30,500/mt ex-Alang. Shipbreakers are hoping for construction activities to pick-up soon which will give a push to the finished steel demand, subsequently impacting the demand for plates.
The daily index for HMS attachments and Melting dropped by Rs650/mt each to Rs26,850/mt and Rs25,850/mt ex-Alang, respectively. Limited deals were reported.. Market sentiment is bearish. Shipbreakers are likely to face decline in volume of ships in the near future.