Indian shipbreaking scrap prices fluctuated on Monday amid low demand from the rolling mills as production in Alang is slow due to shortage of oxygen cylinders. Consequently, recyclers are forced to pay more than double for oxygen cylinders.
The daily Davis Index for 4Ani and 6Ani declined by Rs100/mt($1.35/mt) each to Rs26,000/mt and Rs26,600/mt ex-Alang, respectively.
The daily indexes for 8Ani and 10Ani settled flat at Rs27,700/mt and Rs28,000/mt ex-Alang, respectively. A few trades were heard at the index price
Demand for ship plates remained sluggish throughout the week. The indexes for 2kg and 5kg plates declined by Rs250/mt each to Rs26,250/mt and Rs27,250/mt ex-Alang, respectively.
The demand in the local market is diminishing day-by-day. Export orders are scarce. Rising number of COVID-19 cases is also affecting trade.
The index for HMS attachments and Melting rose by Rs100/mt each to Rs24,850/mt and Rs23,850/mt ex-Alang, respectively.
Sources told Davis Index that 20 vessels are expected in Alang in near term, and four vessels beached recently, including INS Viraat of 19,390ldt.
($1=Rs73.7)