Shipbreaking scrap prices increased on Friday on healthy demand as construction work gathered steam in many parts of the country.
The daily Davis Index for 6Ani rose by Rs200/mt ($2.73/mt) to Rs33,300/mt ($455.47/mt) ex-Alang driven by demand from the rolling mills in Mandi Gobindgarh and Gujarat, with deals reported at index price.
The daily indexes for 0.5kg and 1kg plates rose by Rs350/mt each to Rs31,950/mt and Rs31,850/mt ex-Alang, respectively, as infrastructure projects are picking up pace and pushing demand for finished steel.
The daily Davis Index for HMS attachment and Melting rose by Rs350/mt each to Rs31,750/mt and Rs30,750/mt ex-Alang, respectively. Shipbreakers said market sentiment is positive.
($1=Rs73.11)