Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian shipbreaking scrap prices remained mixed on Wednesday amid fear of a complete lockdown. At present, a night curfew has been imposed in Bhavnagar district, fom 8pm-6am. Alang is a part of Bhavnagar.


Rolling scrap prices were up amid tight supply and increased offers, whereas Melting and HMS attachments offers declined amid limited buying.


The daily Davis Index for 12Ani rose by Rs500/mt ($6.72/mt) to Rs38,800/mt ex-Alang and the index for 8Ani rose by Rs100/mt to Rs37,900/mt ex-Alang.


There are concerns about a shortage of oxygen cylinders in the yards, as 70pc of the oxygen supply will be diverted to the hospitals due to the upsurge in COVID-19 cases.


Construction activities have slowed down in many states due to local lockdowns and restrictions, which has impacted ship plate prices. The index for 1kg plates declined by Rs300/mt to Rs33,700/mt ex-Alang.


Demand from the North has also declined from the rolling mills and ingot prices remained under pressure, falling by Rs500-600/mt in Mandi Gobindgarh on Wednesday.


The daily Davis Index for HMS attachment and Melting declined by Rs300/mt each to Rs33,500/mt and Rs32,500/mt ex-Alang, respectively.


Traders expect domestic ferrous scrap prices to remain under pressure till partial lockdown measures and restrictions are in place.



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