Indian shipbreaking scrap prices in Alang rose on Wednesday amid healthy demand from the rolling mills in Gujarat and the North. The daily Davis Index for 4Ani rose by Rs200/mt ($2.69/mt) to Rs26,000/mt ($349.95/mt) ex-Alang with deals concluding at index price.
The mills preferred to stock material ahead of Diwali this weekend. The daily Davis Indexes for 6Ani and 10Ani rose marginally by Rs50/mt to Rs26,700/mt and Rs28,300/mt, respectively. The index for14Ani settled flat at Rs28,500/mt ex-Alang at which a few trades were reported.
The daily Davis Indexes for 0.5kg plate and 1g plates declined by Rs400/mt each to Rs26,000/mt and Rs25,900/mt ex-Alang, respectively, amid gradual increase in demand from the construction sector.
The Davis Index for HMS attachments and Melting rose by Rs300/mt each to Rs25,800/mt and Rs24,800/mt, respectively, with a few deals reported at the index price.