Indian shipbreaking prices fell on Friday amid slow demand from the re-rollers in Mandi Gobindgarh and Gujarat. The daily Davis Index for 6Ani fell by Rs200/mt ($2.711/mt) to Rs29,300/mt ($397.24/mt) ex-Alang, while the index for 8Ani settled flat at Rs30,300/mt ($410.804/mt) ex-Alang.
Among other rolling scrap grades, the daily indexes for 0.5kg and 1kg plates declined by Rs400/mt each to Rs28,500/mt and Rs29,300/mt, ex-Alang, respectively. Mills have taken a breather as they have stocked material amid moderate demand for finished steel and rising raw material prices, cited market participants.
The shipbreakers reduced offers to stimulate sales. The daily Davis Index for HMS attachments and Melting dropped by Rs300/mt each to Rs28,800/mt and Rs27,800/mt, ex-Alang, respectively.