Re-rolling scrap prices in Alang were firm on Friday as suppliers increased their offers. Inventories with mills have started to deplete, bringing buyers to the market. The daily Davis Index for 6Ani rose by Rs100/mt ($1.33/mt) to Rs40,200/mt ex-Alang, and the index for 10Ani rose by Rs100/mt to Rs41,700/mt ex-Alang.
Small-volume deals were heard in the market as many steelmakers have started to run out of raw material to sustain production. But steel demand from end-users remains low, and mills wanted to avoid stockpiled inventories. The daily index for 4Ani and 12Ani unchanged at Rs38,800/mt and Rs41,900/mt ex-Alang, respectively.
Ship plate prices rose in line with rolling scrap prices, and the index for 1kg plates rose by Rs300/mt to Rs36,000/mt ex-Alang, and the index for 2kg plates rose by Rs100/mt to Rs39,200/mt ex-Alang
The indexes for HMS attachments and Melting fell by Rs100/mt to Rs34,900/mt and Rs33,900/mt ex-Alang, respectively.