Gimpex Pvt Ltd, one of the big trading houses in India have heard to shipped 30,000 MT mill scale from Kandla port (India west coast) in the month of June. This is the second vessel that have exported from India in June. Prior to this KK Enterprises have shipped 35,500 MT mill scale to Philippines on 17 June’16.
According to trade sources Gimpex’s cargo is sold to a Singapore based company and it will be shipped to China (Nanjing port). Vessel ‘MV Spar Corona ‘ departed from India on 30th June 2016.
Last Shipment was made to Philippines
Last shipment by KK Enterprises was sold to Philippine Sinter Corporation (PSC), Philippines at an average price of USD 44/MT FOB India. PSC is owned by JFE Steel Corporation, a Japanese steel company. The company manages and operates the only sinter production facility in the world.
Prices in Indian local market are assessed at INR 2,000-2,200/MT (USD 30-33/MT) ex-Kandla Port, Gujarat and around INR 1,500-1,700/MT (Ex-Raipur)
Indian mill scale export has dropped sharply in FY16. Total of 0.30 MnT was exported in FY16 against 0.49 MnT in FY15.
It is to be noted that export of mill scale do not attract any export duty, unlike iron ore (high grade) that attracts a duty of 30%.
Mill scale lying at Kandla port ( Gujarat)
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