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

Shipbreaking scrap prices remained weak on Thursday amid low demand from rolling mills in Gujarat. The daily Davis Index for 6Ani declined Rs400/mt ($5.36/mt) to Rs39,600/mt ex-Alang while the index for 8Ani declined Rs200/mt to Rs41,000/mt ex-Alang.


Shipbreakers reduced their offers as mills were unwilling to restock inventories. The index for 10Ani declined Rs200/mt to Rs41,500/mt ex-Alang and the index for 12Ani declined Rs300/mt to Rs41,700/mt ex-Alang.


Ship plate prices also fell in line with re-rolling scrap prices, the Davis indexes for 2kg and 5kg plates declined by Rs400/mt each to Rs38,800mt and Rs40,000/mt ex-Alang, respectively.


Pakistani and Bangladeshi ship recyclers have been paying higher for scrapped vessels, and as a result, the availability of tonnages at Alang has decreased.


The daily Davis Index for HMS attachments and melting settled flat at Rs34,600/mt and Rs33,600/mt ex-Alang, respectively. Market participants are closing tracking ferrous scrap prices and a few expect prices to remain low till monsoon retreats.



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