Shipbreaking scrap prices in Alang rose on Wednesday driven by a rise in ingot prices in Mandi Gobindgarh on Tuesday and tight supply. Shipbreakers, however, believe prices are unlikely to persist amid weak demand from rolling mills.
The daily Davis Index for 8Ani rose by Rs200/mt ($2.62/mt) to Rs25,150/mt ex- Alang.
The daily Davis Indexed for 6Ani rose by Rs200/mt to Rs24,650/mt, 10Ani rose by Rs200/mt to Rs25,450/mt, 12Ani rose by Rs100/mt to Rs25,750 ex- Alang.
Shipbreaking activity has begun to decline as monsoon reaches India’s West Coast.
The daily Davis Index for 1kg plates rose by Rs200/mt to Rs22,350/mt, the index for HMS attachments rose by Rs100/mt to Rs22,050/mt and 14Ani prices up by Rs100/mt to Rs25,850/mt ex- Alang.
With subdued demand for finished steel in domestic markets, scrap prices are expected to fall further.