Shipbreaking scrap prices in India remained mixed on Monday amid low demand from the rolling mills due to shortage in oxygen supply.
The daily Davis Index for HMS attachments and Melting declined by Rs450/mt ($6.12/mt) each to Rs25,250/mt and Rs24,250/mt ex-Alang, respectively.
No major cutting activity is happening in Alang and recyclers are worried about managing the workforce that has now returned from hometowns but don’t have work. Around 80pc of the yards have paused their operations and remaining 20pc will eventually do the same on account of shortage of oxygen.
The index for 4Ani rose by Rs200/mt to Rs26,500/mt ex-Alang with a few trades reported at the index price. The index for 6Ani rose by Rs50/mt to Rs27,500/mt ex-Alang.
Shipbreakers have reduced the offers lately as demand from the mills is low. The indexes for 12Ani declined by Rs150/mt to Rs29,350/mt ex-Alang and for 14Ani declined by Rs250/mt to Rs29,350/mt ex-Alang.
Demand for steel plates remained subdued and prices are expected to remain under pressure for a few weeks. The index for 1kg plates declined by Rs550/mt to Rs25,350/mt ex-Alang and the index for 2kg plates settled flat at Rs27,500/mt.