Indian Exporters offer Mill Scale at USD 135-137/MT CFR China

Indian Exporters offer Mill Scale at around USD 135-137/MT CFR China (in bulk), however buying interest seen a little lower than offered prices

Indian Mill Scale exporters have kept their offers in the range of USD 135 to 137/MT CFR China  this week for grade 68/70% Fe in bulk shipment. Trade sources highlight that buying interest from Chinese mills and trades have noticed some resistance because of falling spot iron ore prices.

[su_quote]There are offers for 70/68% Fe Mill Scale at around USD 137 to 135/MT CFR China depending on quantity and quality. Buyers in China have become cautious owing to consistently falling iron ore prices, said a broker based in New Delhi. [/su_quote]

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.

Trade Wise

• Indian exporters offering Mill Scale of grade 68/70 Fe at around USD 135-137/MT CFR China.
• In domestic market Mill Scale prices are hovering in the range of INR 6,200-6,250/MT delivered Vizag port.
• Iron Ore fines of grade 61% (rej) sold at INR 4,200/MT delivered Vizag port.
• Iron Ore fines of grade 55% hovering at INR 3,100-3,200/MT delivered Vizag port.
• Odisha miners offering 63% Fe Iron fines at INR 1,800-2,200/MT Ex Mines (Incld Royalty).