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

Shipbreaking scrap prices declined on Friday as demand from mills remained low, shipbreakers reduced their offers to attract bids.


The daily Davis Index for 4Ani declined by Rs500/mt ($6.72/mt) to Rs39,000/mt ex-Alang and the index for 6Ani declined by Rs300/mt to Rs41,000/mt ex-Alang.


Mills are buying scrap on a need basis to clear finished steel inventories. Shipbreakers also have piled up inventories as trades remained suspended during the strike. 


The index for 8Ani declined by Rs400/mt to Rs43,000/mt ex-Alang and the index for 10Ani declined by Rs300/mt to Rs43,500/mt ex-Alang.


Ship plate prices also followed a similar trend and the index for 2kg and 5kg plates declined by Rs200/mt to Rs40300/mt and Rs42000/mt ex-Alang respectively.


Scrap prices could remain under pressure till domestic demand picks up, the daily Davis Index for HMS attachments and Melting declined by Rs500/mt each to Rs37,000/mt and Rs36,000/mt ex-Alang respectively.



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