Indian shipbreaking scrap prices rose on Tuesday amid rise in demand from the rolling mills in Gujarat and the North. The daily Davis Index for HMS attachments and Melting rose by Rs150/mt ($2.01/mt) each to Rs25,450/mt ($342.39/mt) and Rs24,450/mt ($328.9.mt) ex-Alang, respectively.
The daily Davis Indexes for 6Ani, 8Ani and 10Ani rose by Rs150/mt each to Rs27,000/mt, Rs28,000/mt and Rs28,550/mt ex-Alang, respectively, with a few deal reported at the index price.
The daily Davis Index for 12Ani and 14Ani rose by Rs100/mt each to settle at Rs28,700/mt and Rs28,800/mt ($389.65/mt) ex-Alang, respectively.
The daily Davis Indexes for 2kg plate and 5kg plates rose by Rs150/mt each to Rs26,700/mt, Rs27,550/mt ex-Alang, respectively, amid a gradual rise in demand from the construction sector. A few trades concluded at the index price for these grades.
Mills are cautiously purchasing domestic scrap amid rising imported scrap prices along with weak demand for finished steel.
($1=Rs74.329)