Indian shipbreaking melting scrap price rose for the second consecutive day amid a gradual rise in demand from the rolling mills in the north. The daily Davis index for 4Ani rose by Rs150/mt ($2.04/mt) to Rs26,150/mt ex-Alang. Few trades were heard for 6Ani at the index price, the daily index rose by Rs400/mt to Rs27,400/mt ex-Alang.
Shipbreakers have raised their offers amid increase in their input cost due to non-availability of oxygen cylinders. The daily Davis Index for 8Ani rose by Rs400/mt to Rs28,500/mt ex-Alang, transactions were heard at the index price.
The index for 14Ani rose by Rs500/mt to Rs29,200/mt ex-Alang and the index for 12Ani rose by Rs400/mt to Rs29,100/mt ex-Alang, few transactions were heard at the index price for both the grades.
Demand for steel plates has gradually increased from the auto and infra sector pushing prices of 1kg and 2kg plates up. The index for 1kg plates rose by Rs350/mt to Rs25,900/mt ex-Alang and the index for 2kg plates rose by Rs300/mt to Rs26,950/mt ex-Alang.
Few bookings were heard for ferrous scrap from the mills in North, however, due to shortage of inventories shipbreakers hiked their offers on Tuesday. The daily Davis index for HMS attachments and Melting rose by Rs350/mt each to Rs25,700/mt and Rs24,700/mt respectively.
($1=Rs73.18)