Indian shipbreaking scrap prices in Alang rose on Wednesday amid healthy demand from the rolling mills in Gujarat and the North. The daily Davis Indexes for 4Ani, 12Ani and 14Ani rose by Rs500/mt ($6.73/mt) each to Rs28,000/mt ($376.9/mt), Rs30,450/mt ($409.9/mt) and Rs30,500 ($410.62/mt) ex-Alang, respectively.
Among other rolling scrap grades, the daily Indexes for 8Ani and 10Ani increased by Rs500/mt each to Rs29,550/mt and Rs30,050/mt ex-Alang, respectively, with trades reported at these prices.
The construction and infrastructural activities are likely to gain momentum as labourers return to work after the Diwali break. The daily Davis Index for 2kg plates rose by Rs550/mt to Rs28,350/mt ex-Alang and the index for 5kg plates increased by Rs450/mt to Rs29,250/mt ex-Alang.
The Davis Index for HMS attachments and Melting rose by Rs500/mt each to Rs28,000/mt and Rs27,000/mt ex-Alang, respectively, amid shortage of imported scrap. Deals concluded at index price.
($1=Rs74.27)