Mill scale prices in Indian market remained stable. Weak interest from exporters coupled with declining iron ore prices in domestic market has kept trade volumes low.
Current offers for 70/68% Fe mill scale are assessed at INR 2,600-2,700/MT (ex-Raipur; excluding Excise) and INR 2,000-2,100/MT (ex-Kandla; excluding Excise).
Last week an Indian exporter had shipped about 31,000 MT mill scale to China at a tentative price of USD 45/MT FoB Kandla Port; freight was assessed at USD 12-13/MT from Kandla (Indian West Coast) to China.
In outlook, firm iron ore prices in Chinese market and weak Indian currency may give some parity to exports from India. In addition, few more transactions are expected to take place in September.
Mill Scale Exports from India (Jan-Aug’15)
| Month | Load Port | Vessel Name | Quantity | FoB Prices in USD/MT |
Unload Port | Country |
| Jan’15 | Kandla | Jia Xiang Shan | 42,900 | NA | Nanjing | China |
| Jan’15 | Kandla | CS Princess | 38,500 | 56.5 | Nantong | China |
| Feb’15 | Kandla | Crystal Ocean | 40,000 | 76.25 | Nantong | China |
| Jun’15 | Kandla | Franbo Wind | 30,000 | 47.84 | Nantong | China |
| Jul’15 | Kandla | Korean Lily | 40,000 | 49 | Nanjing | China |
| Jul’15 | Kandla | Ocean Innovation | 32,000 | 58 | Villanueva | Philippines |
| Jul’15 | Chennai | Franbo Wind | 11,800 | 48 | Nantong | China |
| Aug’15 | Kandla | Pac Star | 31,000 | 45 | Nantong | China |
| Total | 266,200 | |||||
Quantity in MT; Provisional Data
Source: SteelMint Stats, Custom
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