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

Shipbreaking scrap prices declined on Friday on tepid demand from rolling mills. The daily Davis Index for 4Ani fell by Rs300/mt ($4.04/mt) to Rs39,700/mt ex-Alang, and the index for 6Ani declined by Rs500/mt to Rs40,700/mt ex-Alang.

 

Yards reduced scrap offers as demand from ingot makers in Mandi Gobindgarh declined. The index for 8Ani was down by Rs600/mt to Rs42100/mt ex-Alang, and the index for 10Ani fell by Rs500/mt to Rs42,700/mt ex-Alang

 

A low pace of construction activities due to the monsoon rains dragged down demand for ship plates. The index for 1kg plates declined by Rs1,000/mt to Rs37,200/mt ex-Alang, and the index for 5kg plates was down by Rs600/mt to Rs41,100/mt ex-Alang

 

Market participants believe ferrous scrap demand and prices could remain under pressure until finished steel sales rise.

 

The daily Davis Index for HMS attachments declined by Rs900/mt to Rs37,000/mt ex-Alang, and the index for Melting declined by Rs600/mt to Rs36,000/mt ex-Alang

 

($1=Rs74.18)

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