Shipbreaking prices rose on Monday amid healthy demand from the re-rollers in Mandi Gobindgarh and Gujarat. Mills preferred domestic scrap as prices of imported scrap are rising amid short supply. The Davis Index for HMS attachments and Melting rose by Rs700/mt ($9.45/mt) and Rs600/mt ($8.10/mt) to Rs28,100/mt ($379.7/mt) and Rs27,100/mt ($366.21/mt) ex-Alang, respectively.
Among other rolling scrap grades, the daily Davis Index for 4Ani rose by Rs650/mt to Rs28,150/mt, and that of 12Ani increased by Rs600/mt to Rs30,200/mt ex-Alang, with trades concluding at index price.
The daily Davis Index for 14Ani rose by Rs500/mt to Rs30,200/mt with transactions being reported. As activities in the construction sector gain momentum, the prices for plates has gone up. The daily Davis Indexes for 0.5kg and 1kg plates rose by Rs700/mt to Rs28,200/mt and Rs28,100/mt, respectively.
($1=Rs73.96)