Indian shipbreaking scrap prices in Alang rose on Thursday amid healthy demand from the rolling mills in Gujarat and the North ahead of Diwali festivities this weekend. The daily Davis Indexes for 8Ani, 10Ani and 14Ani rose by Rs500/mt ($6.71/mt) to Rs28,200/mt ($378.5/mt), Rs28,800/mt ($386.6/mt) and Rs29,000 ($3892/mt) ex-Alang, respectively.
The daily Davis Index for 4Ani increased by Rs650/mt to Rs26,650/mt ex-Alang and 12Ani rose by Rs600/mt to Rs29,000/mt ex-Alang with trades being reported at the index price.
The demand for plates has perked up ahead of Diwali. The daily Davis Indexes for 0.5kg plate and 1g plates rose by Rs750/mt each to Rs26,750/mt and Rs26,650/mt ex-Alang, respectively.
The Davis Index for HMS attachments and Melting rose by Rs800/mt each to Rs26,600/mt and Rs25,600/mt, respectively, with deals concluding at the index price.
Shipbreakers are expecting the prices and demand to sustain after Diwali as well.