Falling Iron ore prices in seaborne market has weighed upon Mill Scale prices. As Iron ore prices dived to 5 years low, Chinese buyers have also preferred to reduce their purchases for Mill Scale as well.
Currently, Fe 68/70% Mill Scale is assessed at USD 85-86/MT CFR China for bulk loading. It has declined almost by USD 5/MT from previous trade.
“There is very little buying interest for Mill Scale as Chinese mills prefer Iron fines, after prices have slumped to USD 80/MT CFR China. We see tradable price for Mill Scale at USD 84-86/MT CFR China (in bulk),” said an importer based in China.
There were two shipments made from India in the month of September by Space Exim and Kineta Global at USD 88/MT and USD 74/MT on FOB basis respectively.
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