Melting and HMS attachments prices in Alang’s shipbreaking market were flat on Thursday as re-rolling mills turned silent. The daily Davis Index for HMS attachments and Melting settled unchanged at Rs37,500/mt ($504/mt) and Rs36,500/mt ex-Alang.
The daily Davis Index for 8Ani settled flat at Rs43,400/mt ex-Alang and the index for 10Ani declined by Rs100/mt to Rs43800/mt ex-Alang.
Gujarat-based steelmakers focused on using available inventories for production as they wait for steel demand from the end-users to pick up.
The daily Davis Index for 2kg plates declined by Rs100/mt to Rs40,500/mt ex-Alang, and the index for 5kg plates declined by Rs200/mt to Rs42,200/mt ex-Alang.
Market participants expect demand for finished steel to slow down in September due to Ganpati festivities, keeping ferrous scrap prices rangebound.