In line with falling iron ore prices in global market, Mill scale export offers from India have witnessed decline this week.
On weekly basis, spot iron ore prices in China have come down by USD 2-3/MT. Trading activities in Chinese iron ore market remained quiet in last couple of days over Qing Ming Festival (tomb-sweeping day).
Mill scale (Fe 70/68%) export offers are presently assesed in the range of USD 60-65/MT, FoB India.
Indian mill scale exports increased sharply in Mar’17 – India exported 104,820 MT mill scale in Mar’17. Last month noticed three mill scale export vessels from India and all of them were exported from Kandla port. 1st vessel of 52,500 MT was of KK Enterprises, 2nd vessel carrying 27,320 MT mill scale was that of Gimpex and 3rd vessel carrying 25,000 MT mill scale was exported by Bagadiya Brothers.
According to customs data maintained with SteelMint, two mill scale export vessels are in pipeline for Apr’17. Hallpark Consult is to export 10,000 MT mill scale from Haldia port. Another export vessel carrying 20,700 MT mill scale is likely to be exported from Kandla port.
Domestic mill scale price scenario – Mill scale prices in Raipur have remained majorly stable this week. Prices are at INR 2,200/MT (ex-Raipur).
However it is expected that domestic mill scale prices in Kandla may come down as global mill scale prices have fallen. Last price assesment was recorded at INR 3,100/MT (del Kandla).
Leave a Reply