Indian shipbreaking scrap prices rose on Monday as shipbreakers raised offers. The daily Davis Index for HMS attachment and Melting rose by Rs350/mt ($4.76/mt) each to Rs25,350/mt and Rs24,400/mt ex-Alang, respectively.
Mills have increased their buying activity as demand from the auto sector increased. The index for 10Ani rose by Rs150/mt to Rs29,200/mt ex-Alang. Few transactions were heard at index price.
The index for 14Ani rose by Rs150/mt to Rs29,400/mt ex-Alang. Demand for steel plates increased which lifted the daily Davis Index for 1kg by Rs400/mt to Rs25,450/mt ex-Alang and the index for 2kg plates rose by Rs125/mt to Rs26,700/mt ex-Alang.
The index for 4Ani fell by Rs500/mt to Rs26,000/mt and the index for 8Ani declined by Rs150/mt to Rs28,550/mt ex-Alang.
India is facing a healthcare crisis with the numbers of COVID-19 infections at an all-time high. India has a recorded recovery mark of 3mn, which is an achievement. The government is easing pandemic restrictions to allow businesses and industries resume their activities amid the new normal of living with COVID.