Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian shipbreaking scrap prices declined on Thursday as mills slowed their buying after stocking raw material inventories. The daily Davis Index for HMS attachments declined by Rs200/mt to Rs23,450/mt ex-Alang. The index for Melting declined by Rs200/mt ($2.67/mt) to Rs22,450/mt ex-Alang.


Shipbreakers reduced their offers on Thursday by Rs100-200/mt for rolling scrap amid low demand from mills in North as well as local steelmakers.


The indexes for 4Ani fell by Rs200/mt to Rs26750/mt ex-Alang, while 6Ani declined by Rs150/mt to Rs27,350/mt and 10Ani dropped by Rs100/mt to Rs28,750/mt ex-Alang.


Few trades were heard for 12Ani and 14Ani on Thursday at the index prices, the daily Davis Index for 12Ani fell by Rs50/mt to Rs29,000/mt ex-Alang. The index for 14Ani rose by Rs50/mt to Rs29,100/mt ex-Alang.


Demand for shipbreaking plates lagged on Thursday, the index for 1kg plates fell by Rs200/mt to Rs23,650/mt ex-Alang. The index for 5kg plates declined by Rs100/mt to Rs27,650/mt ex-Alang.


End-user demand is expected to remain low as market participants are waiting on the sidelines to get a clear price direction post Eid.

($1= Rs74.87)

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