35,500 MT Mill Scale Export Vessel Reported at Kandla Port

A bulk vessel of 35,500 MT Mill scale is reported at Kandla port. “MV Asia Emerald III” is scheduled to depart from Kandla port on 17 Jun’16.

According to sources cargo belongs to Gimpex ltd and will be exported to China.

Indian mill scale exports have been quiet from sometime owing to low buying interest from Chinese buyers.

Tentative price for 68/70% Fe Mill Scale from India is hovering around USD 35-40/MT FOB, which is equivalent to USD 45-50/MT CFR China. Prices in local market are assessed at INR 2,000-2,200/MT (USD 30-33/MT) ex- Kandla port, Gujarat.

Indian mill scale export has dropped sharply in FY16. Total of 0.30 MnT was exported in FY16 against in 0.49 MnT in FY15.

It is to be noted that export of mill scale do not attract any export duty, unlike iron ore (high grade), which attracts a duty of 30%.

Indian Mill Scale Export Vessels in FY 17

Qty in MT
Source: SteelMint Stats, Custom
Provisional Data