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

Indian shipbreaking rolling scrap prices declined on low demand from the rolling mills in the North and Gujarat. The daily Davis Index for 10Ani declined by Rs600/mt ($8.16/mt) to Rs28,550/mt ex-Alang, while the index for 4Ani declined by Rs200/mt to Rs25,900/mt ex-Alang on Thursday.


Demand for finished steel has not yet picked-up, hence, shipbreakers have lowered their offers as they are eager to clear the available tonnages.


The daily Davis Index for 6Ani declined by Rs200/mt to Rs26,900/mt ex-Alang, while the index for 12Ani declined by Rs600/mt to Rs28,800/mt ex-Alang.


Demand for steel plates has not yet picked-up as construction activities are still not gaining momentum. The daily Davis Indexes for 1kg plates declined by Rs350/mt to Rs25,350/mt ex-Alang and for 2kg plates declined by Rs400/mt to Rs26,600/mt ex-Alang.


Ferrous scrap trades were thin on Thursday, which pulled down the prices of HMS attachments and Melting scrap. The daily Davis Index for HMS attachments and Melting declined by Rs300/mt each to Rs25,150/mt and Rs24,150/mt ex-Alang, respectively.


Shipbreakers are optimistic that prices will improve in near term as demand from auto sector will drive the requirement for raw materials.



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