Indian Mill Scale exporters keep their offers unchanged; however limited supply in domestic market remains a concern for Indian exporters
Indian mill scale exporters have kept their offers at similar levels to Chinese buyers this week. With stable iron ore prices in Chinese spot market, buying interest is also good looking at winter demand in China. According to trade sources Indian exporters are offering 70/68 % Fe mill scale at around US$ 132-135/MT CFR China.
According to trade sources last deal of around 20,000 tonnes was done somewhere at US$ 133/MT (in bulk) last week. Cargo was loaded from Vizag port.
Mill scale is a by product generated during re-rolling process and used by pellet and blast furnaces because of high iron content. Indian exports of Mill Scale have gone up recently as it does not attract any export duty or differential freight charge by railways, unlike iron ore.
With Indian iron ore exports falling down constantly, exporters have shown there interest in exporting mill scale. Indian exporters mentioned that current prices for iron ore of grade 63% in Chinese spot market is hovering around US$ 136-137/MT.
Indian Domestic Market
In domestic market Mill Scale prices are hovering in the range of INR 6,100-6,200/MT delivered Vizag port.
Iron Ore fines of grade 63% offered at around INR 4,700/MT delivered Vizag port.
Iron Ore fines of grade 55% hovering at INR 3,100-3,200/MT delivered Vizag port.
Iron Pellets of grade 63.5/63 at around USD 146-148/MT FOB East Coast India
Leave a Reply