Indian Mill Scale Export Prices fall in-line with Iron Ore

• Seaborne Iron ore prices in China fell 5-year low at USD 66/MT, CIF China for Fe 62%
• Mill scale in bulk from India is trading at USD 72/MT, CIF China
• Chinese Iron ore traders expect limited correction from these levels 

Mill scale prices fell in proportion to Seaborne Iron ore prices in the Chinese market, which plummeted to 5-year low. Fe 62 was assessed at around USD 66/DMT, CIF China.

Indian exporter sold a bulk shipment of 35,000 MT to Chinese trader at USD 72/DMT, CIF China; loading will take place on 25 or 26 Dec, 2014. Last deal was concluded at USD 84-86/DMT, CIF China in the month of November, when Iron ore (62%) was trading at around USD 75/DMT, CIF China.

Earlier, an Indian exporter mentioned that they have offered bulk cargo at USD 75-76/DMT, CIF China but failed to receive bids.

In domestic market, trades are assessed at INR 2,650 /WMT; delivered to Kandla Port and INR 2,900/WMT ex-Raipur.

Mill Scale Prices as on 24 Dec’14

*delivered
Source: SteelMint Research