Indian shipbreaking scrap prices fell on Wednesday amid subdued demand from rolling mills. The daily Davis Index HMS attachments fell by Rs200/mt ($2.64/mt) to Rs23,250/mt ex-Alang.
Transaction for 4Ani were heard at Rs24,700/mt on Wednesday. The daily Davis Index for 4Ani declined by Rs33/mt to Rs24,717/mt ex-Alang.
Yards, as well as mills continue to face labour shortage, therefore, mills depend more on the local workers to continue ship dismantling operations as vessels have already arrived at the port. Yards are trying to clear the piled-up inventory ahead of slump in demand due to the onset of monsoon.
Transactions were heard at Rs26,000/mt for 8Ani. The daily Davis Index for 8Ani declined by Rs133/mt to Rs26,017/mt ex-Alang.
The daily Davis Index for Melting declined by Rs200/mt to Rs22,250/mt, the index for 1kg plates fell by Rs200/mt to Rs23,550/mt and 14Ani declined by Rs200/mt to Rs26,750/mt ex-Alang.
Ships beached recently:
|Ship name||Ship type||Ship LDT(MT)||Origin|
|M.T Seatac Dreams||Oil tanker||8744.31||South Korea|
Three ships await beaching permission and 13 ships are expected to anchor at Alang in the coming weeks.