Indian mill scale offers in domestic market have remained stable this week, although no deals have been heard to be concluded owing to difference between bids & offers.
Central India mill scale prices have also remained unchanged this week and are at INR 2,200/MT (ex-Raipur).
West India based parties were seen offering mill scale around INR 2,600-2,700/MT (del-Kandla), however buying interest remains away from current levels. Buying inquiries remained quite low from that of current offers, resulting in no trade activities. It is to be noted that Kandla port accounts for largest share in India’s total mill scale exports with a percentage share of around 80%.
Indian mill scale export offers at USD 51/MT, FoB India – Owing to stability in Chinese spot iron ore prices this week, mill scale export offers from India remained firm at USD 51/MT, FoB India.
Last week offers were heard in the range of USD 45-50/MT, FoB India.
Spot iron ore prices in China have remained range bound this week amid limited trade activities. Yesterday (i.e. on 27 Apr’17) Fe 62% fines index was assessed at USD 66.6/MT, CFR China.
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