Falling spot iron ore prices in China reduced viability of mill scale exports from India. Indian mill scale exports which stood at 104,820 MT in Mar’17 dropped drastically to 40,700 MT in Apr’17.
Monthly average spot iron ore fines (Fe 62%) prices have fallen to USD 70/MT, CFR China in Apr’17 which was USD 87/MT, CFR China in Mar’17. Thus, down by USD 17/MT M-o-M.
Entire quantity of mill scale exported from India last month was to China. Kandla port accounted for 50% share in Apr’17 mill scale exports, followed by Vizag and Haldia ports each occupying share of 25%.
Indian Mill Scale exports in Apr’17
|
Date |
Shipper | Load Port | Vessel Name | Quantity |
Unload Country |
| 18-Apr-17 | Hallpark Consult | Haldia | Vinaline Freedom | 10,000 | China |
| 5-Apr-17 | Bagadiya Brothers | Vizag | Tenwa Maru | 10,000 | China |
| 6-Apr-17 | N/A | Kandla | Le Rong | 20,700 | China |
Quantity in MT
Provisional data
Source: SteelMint Stats
Indian Mill Scale Market Overview
Spot iron ore prices yesterday dropped to 8 months low amid slump in steel prices. Fe 62% fines index closed at USD 59.5/MT, CFR China.
Presently mill scale (Fe 70/68%) export offers from India are around USD 40-41/MT, FoB India which is equivalent to USD 62/MT, CFR China.
Domestic mill scale prices in major India markets are as follows: Raipur – INR 2,400/MT (up by INR 200/MT W-o-W) and in Kandla – INR 2,500/MT (down by INR 200/MT W-o-W). Market participants reported thin trades at present offers amid dull demand.
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