Indian shipbreaking rolling prices remained mixed on Friday amid low demand from re-rollers. The daily Davis Index for 8Ani fell by Rs283/mt ($3.86/mt) to Rs28,700/mt ex-Alang.
Mills are utilizing available inventories as demand from the end-use sectors is still low, shipbreakers have reduced their offers to clear material stocked at yards. The index for 4Ani rose by Rs500/mt to Rs26,500/mt ex-Alang, few trades were reported at the index price on Friday. The index for 6Ani settled flat at Rs27,000/mt ex-Alang.
Steel production slowed this week amid a rise in COVID-19 infections and heavy rains. Rain and flooding in many parts of western India also subdued demand from the construction sector. The index for 14Ani and 12Ani declined by Rs300/mt to Rs29,250/mt ex-Alang, respectively. Demand for steel plates was low, pulling down the index for 2kg and 5kg plates. The daily index for 2kg plates declined by Rs75/mt to Rs26,575/mt ex-Alang, the index for 5kg plates declined by Rs150/mt to Rs27,800/mt.
Availability of scrap is low in the domestic market and steelmakers are trying to focus more on the imported scrap as they are expecting demand to pick up as monsoon retreats. The index for HMS attachments and Melting rose by Rs50/mt each to Rs25,000/mt and Rs24,000/mt, respectively.
This week most tonnages reached Pakistan and Bangladesh due to high offers and vessels which are meant to be recycled under HKC norms beached at Alang.
($1=Rs73.16)