Shipbreaking scrap prices in Alang rose amid scrap shortage and ‘road roko’ (road blockade) protest by the farmers in Punjab over the Farm Bill which is causing severe supply chain disruption.
The daily Davis Index for HMS attachment and Melting rose by Rs200/mt ($2.68/mt) each to Rs25,500/mt ($342.8/mt) and Rs24,500/mt ($329.4/mt), respectively. Trades thinned subsequently.
Mills in Gujarat went on strike demanding loading charges of Rs100/mt to be waived-off which is likely to hamper trades. The daily Davis Indexes for 4Ani, 6Ani and 8Ani rose by Rs250/mt each to Rs26,200/mt, Rs27,200/mt and Rs28,200/mt ex-Alang, respectively.
The indexes for 12Ani and 14Ani rose by Rs250/mt each to settle at Rs29,100/mt ex-Alang. A few deals concluded at the index price.
The daily Davis Indexes for 2kg plate and 5kg plates rose by Rs250/mt each to Rs27,000/mt and Rs28,000/mt ex-Alang, respectively, amid weak demand.
($1=Rs74.34)