Indian shipbreaking scrap prices in Alang declined on Thursday amid weak demand from the rolling mills in Gujarat and the North. The daily Davis Indexes for 4Ani and 8Ani dropped by Rs400/mt ($5.38/mt) each to Rs27,600/mt ($371.69/mt) and Rs29,150/mt ($392.56/mt) ex-Alang, respectively.
Most mills in Gujarat and Mandi Gobindgarh preferred to stock rolling scrap in anticipation of price hike in the near term. Among other rolling scrap grades, the daily Davis Indexes for 10Ani and 14Ani declined by Rs200/mt each to Rs29,850/mt and Rs30,300/mt ex-Alang, respectively, with a few trades reported at these index prices.
The daily Davis Indexes for 2kg plates and 5kg plates dropped by Rs250/mt each to Rs28,100/mt and Rs29,000/mt ex-Alang, respectively.
The Davis Index for HMS attachments and Melting fell Rs200/mt each, to Rs27,800/mt and Rs26,800/mt ex-Alang, respectively. However, market sentiments remain positive with deals concluding at the index price.
($1=Rs74.25)