Shipbreaking scrap prices in Alang remained mixed on Thursday as mills are in a wait-and-watch mode before procuring raw material.
Demand from the mills in Gujarat as well as in the North has not yet picked up, but the shortage of local scrap has kept the prices firm for few grades.
The daily Davis Index for 4Ani rose by Rs300/mt ($4.09/MT) to Rs34,400/mt ex-Alang. The index for 8Ani rose by Rs200/mt to Rs36,400/mt ex-Alang.
Offers for 10Ani and 12Ani remained unchanged amid low demand and shortage of material. The indexes for 10Ani and 12Ani settled flat at Rs36,800/mt and Rs37,300/mt ex-Alang, respectively.
Shipbreakers are still waiting to get a clear price direction, and some expect prices to improve in near term as mills must buy raw material to fulfill their daily production targets.
The index for 2kg plates declined by Rs200/mt to Rs34,400/mt ex-Alang and the index for 5kg plates rose by Rs100/mt to Rs35,400/mt ex-Alang.
Demand for HMS attachments and Melting remained low, and supplier have reduced their offers by Rs200/mt. The daily Davis Index for HMS attachments and Melting declined by Rs200/mt each to Rs32,800/mt and Rs31,800/mt ex-Alang, respectively.
($1=Rs73.33)