Indian mill scale prices remain unchanged week on week, despite low demand from export market. Current domestic offers for Fe 68/70 mill scale are assessed at INR 2,800-2,900/MT, ex-Raipur and INR 2,000-2,100/MT ex-Kandla and export prices at USD 55-58/MT, CIF China for bulk shipments.
Mill scale export from India has noticed an increment in the month of July’15 as exporters want to clear their position looking at weak demand. Export from India was recorded at about 88,000 MT in July (till 20th), which was 30,000 MT in June, according to customs data. Two bulk vessels were sold to China and Phillipines at USD 48/MT and USD 58/MT, FoB Kandla port respectively in the month of July. One bulk vessel has been shipped from Kandla port to China in June.
“Iron ore prices in China have dropped to over 10 years low and we do not revive prices soon. Most of the exporters, who have been holding stock since last one year, want to clear their position,” said a mill scale exporter based in western India.
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