Bagadiya Brothers P ltd, India’s one of the premium exporter, is to load 21,000 tonnes of Mill Scale from Vizag port.
Indian Mill Scale exporters have reduced their offers by almost US$ 3-4 per tonne this week, looking at falling spot iron ore prices in Chinese market, which have also corrected in the same proportion.
Bagadiya brothers is to ship a cargo vessel of quantity 21,000 tonnes from Vizag port. Trade sources mention that deal was supposedly done at around USD 134-135/MT CFR China, however no official confirmation received from the seller’s end.
Mill scale is a by product generated during re-rolling process and used by pellet and blast furnaces because of high iron content. Indian exports of Mill Scale have gone up recently as it does not attract any export duty or differential freight charge by railways, unlike iron ore.
Trade Wise
- Indian exporters offering Mill Scale of grade 68/70 Fe at around USD 131-134/MT CFR China.
- In domestic market Mill Scale prices are hovering in the range of INR 6,100/MT delivered Vizag port.
- Indian exporter sold Iron Pellet of grade 63.5% at around USD 162/MT FOB India West Coast.
- Domestic Iron Ore Fines prices in Odisha stand at INR 2,200-2,300/MT for Fe 63% (Ex-Mines, Incld Royalty).
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