India has remained a major mill scale exporter in last few years. Being free from export duty and distance based charges, mill scale is preferred as an exportable material.
Mill scale exporters from Indian continue to hold export offers this week. Indian mill scale (Fe 70/68%) export offers are assesed at USD 41-42/MT, FoB India.
Trade sources mentioned that no fresh deals have been concluded.
Mill scale export offers are highly governed by Chinese spot iron ore prices.
Chinese spot iron ore fines fall ahead holidays : Spot iron ore fines (Fe 62%) prices in China after hovering in the range of USD 60-61/MT, CFR from last few days have come down to USD 58.8/MT, CFR China. Prices declined as buyers remained silent. Mills seemed to have enough stock and kept themselves away from restocking ahead approaching holidays of Dragon Boat festival on 30 May’17.
Indian mill scale exports: Decline in spot iron ore prices in China reduced mill scale exports from India last month. India exported 40,700 MT mill scale in Apr’17 against 104,820 MT in Mar’17. Notably monthly average spot iron ore fines (Fe 62%) prices dropped to USD 70/MT, CFR China in Apr’17 which was USD 87/MT, CFR China in Mar’17.
Indian mill scale export vessel line up in May’17:
|
Date |
Load Port | Vessel Name | Quantity | Destination |
Status |
| 16 May’17 | Kandla | Le Chang | 20,000 | Malaysia | Berth |
| 25 May’17 | Vizag | Grand Royal | 25,000 | N/A | Expected |
Quantity in MT
Provisional data
Source: SteelMint Stats, Customs
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