Indian shipbreaking scrap prices rose on Tuesday amid a shortage of labour at Alang yards. The daily Davis Index for 12Ani rose by Rs300/mt ($3.96/mt) to Rs26,850/mt ex-Alang. Trades for 6Ani were heard at Rs25,700/mt, the daily Davis Index for 6Ani rose by Rs25/mt to Rs25,700/mt ex-Alang.
Rolling mills in India are eyeing to stock raw material ahead of monsoon, although they are currently operating at 20-25pc production capacity due to weak demand and a shortage of labour. The daily Davis Index for 2kg plate rose by Rs150/mt to Rs25,800/mt ex- Alang, transactions closed at index price supported by demand from rolling mills in Mandi Gobindgarh.
The daily Davis Index for 8Ani rose by Rs200/mt to Rs26,150/mt, 14Ani rose by Rs300 to Rs26,950/mt and 5kg plate rose by Rs100/mt to Rs26,050/mt ex-Alang.
Shipbreakers are currently inactive and waiting for ship demolition sales to resume and labourers to return to work.
A container ship from Denmark, Kure, 33,100/mt was sold in Alang at $318/LDT. A general cargo ship from China, Zea Tokyo, 12,408/mt was sold at $303/LDT.
($1= 75.6)