Shipbreaking scrap prices rose on Tuesday amid healthy demand from re-rollers in Mandi Gobindgarh and Gujarat. The daily Davis Index for 8Ani rose by Rs650/mt ($8.842/mt) to Rs 29,650/mt ($403.33/mt) ex-Alang. The daily Davis Index for 6Ani and 12Ani rose by Rs450/mt each to Rs28,750/mt and Rs30,650/mt, ex-Alang, respectively.
Among other rolling scrap grades, the daily Davis Index for 0.5kg, 1kg and 5kg plates rose by Rs500/mt each to Rs28,700/mt, Rs28,600/mt and Rs29,200/mt, ex-Aland, respectively. Prices were supported by increased construction activities.
Amid rising demand for finished steel and consequently scrap, the daily Davis Index for HMS attachments and Melting rose by Rs600/mt each to Rs28,700/mt and Rs27,700/mt, ex-Alang, respectively. The prices are likely to maintain the uptrend in the near future, recyclers said.