Indian shipbreaking scrap prices remained mixed on Thursday amid staggered demand from the rolling mills from the North as well as the local Gujarat mills. The daily Davis index for 4Ani fell by Rs250/mt ($3.40/mt) to Rs25950/mt ex-Alang and the index for 6Ani declined by Rs50/mt to Rs27,150/mt ex-Alang.
Few trades concluded at the index price for 8Ani, the index rose by Rs50/mt to Rs28400/mt ex-Alang.
Shipbreakers reduced offer prices for a few grades as they were pressured to clear daily inventories. The index for 12Ani declined by Rs250/mt to Rs28,950/mt ex-Alang, the index for 14Ani fell by Rs100/mt to Rs29,100/mt ex-Alang.
Demand for the ship plates remained low amid weak construction demand. The indexes for 1kg and 2kg plates declined by Rs50/mt each to Rs25,050/mt and Rs27,050/mt ex-Alang and the index for 5kg plates declined by Rs150/mt to Rs27,950/mt ex-Alang.
Shipbreakers raised their offer for HMS and Melting scrap due to shortage in local market. The index for HMS attachments and Melting rose by Rs100/mt each to Rs25,100/mt and Rs24,100/mt ex-Alang.
Demand for finish steel in the local market is expected to pick up gradually driving mills to purchase scrap in the near term.