Indian Ship Breaking Prices Hit 1-Year High

Ship breaking prices in Alang (west India) hit 1-year high level and jumped up by INR 2,200-3,000/MT in a month.

In just 1-month, ship breaking prices in Alang, one of the largest ship breaking yards in the world, have jumped up by INR 2,200-3,000/MT M-o-M. Bullish sentiments prevailing in raw material market drove the ship breaking prices up in the domestic market.

HMS (80:20) ship breaking in Alang registered the major price hike of INR 3,000/MT and assessed at INR 18,300/MT. This price range was last seen in Sept’15.

At the present state of affairs, ship breaking prices are hovering in the range of INR 18,300-21,100/MT on ex-Bhavnagar basis.

Meanwhile, scrap prices in Alang have also surged by INR 2,450/MT to INR 17,700/MT ex-Alang in Sept’16 against Aug’16.

In outlook, it seems that prices are likely to remain on positive side, viewing constant rising Pig iron prices and improvement in buying activities.