Indian exporter named Global Commodities, has recently concluded a bulk shipment of 35,000 MT Mill Scale from Kandla to a Singapore based trader, Unicore Resources at around USD 71/DMT FOB Kandla (Gujarat), India’s west coast.
Prices are in line with previous shipments. Last shipment made in September’14 by a Hyderabad based trader,Kineta Global was settled at USD 72-74/MT FOB Chennai/Kakinada port.
Indian Mill Scale exports have dried out after consistent fall in global Iron ore prices, which have touched 5-yrs low.
Though Indian exporters have been reluctant in cutting down offers due to reasonably high domestic prices. Demand for Mill scale from Pellet manufacturers and Sinter plant is firm due to several mining restrictions imposed, creating a shortage of Iron ore.
In a dialogue with Indian exporter, who holds around 15,000 MT stock at different port mentioned that their cost of purchase is quite high and they will wait for market to improve.
| Particular | Grade | Delivery | Price | W-o-W | M-o-M |
| Indian Export | 70/68% | FOB India | USD 70-72 | 0 | – 7 |
| Chinese Import | 70/68% | CFR China | USD 83-85 | 0 | – 7 |
| Indian Domestic | 70/68% | Ex-Raipur | INR 3,700-3,800++ | 0 | +100 |
| Indian Domestic | 70/68% | Ex-Kandla | INR 3,200-3,400++ | 0 | +100 |
++ Basic prices; Excise and Taxes Extra
Source: SteelMint Research
Trade-wise
- Prices in Raipur are hovering in the range of INR 3,700-3,800/MT on Ex-works basis.
- Kandla’s prices are heard to be at INR 3,200-3,400/MT delivered Port
- Last trade of 70% Fe Mill scale was settled at USD 71/MT FOB Kandla
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