Indian mill scale prices remain stable this week. Some buying activities were reported from Indian steel mills and exporters.
Current prices for 68/70% Fe mill scale prices are assessed at INR 1,500-1,700/MT (ex-Plant, Raipur) and INR 2,000-2,200/MT (ex-Yard, Kandla). Prices are similar to last week.
Tentative price for 68/70% Fe mill scale from India is hovering within USD 35-40/MT FoB, which is equivalent to USD 45-50/MT, CFR China.
Indian mill scale export has dropped sharply in FY16. Total of 300,000 MT was exported in FY16 against 490,000 MT in FY15.
It is to be noted that export of mill scale do not attract any export duty, unlike iron ore (high grade), which attracts a duty of 30%.
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