India: Mill Scale Exports Surge 72% Y-o-Y in FY17

Rising in iron ore prices in China in FY17 boosted mill scale exports from India.

Mill scale exports from India increased significantly by 72% Y-o-Y from 222,800 MT in FY16 to 383,130 MT in FY17.

China’s increased demand for iron ore and hike in steel prices resulted in sharp increase in global iron ore prices. Yearly average fines (Fe 62%) index climbed by around USD 15/MT in FY17 and stood at USD 67/MT, CFR China.

China accounted for 56% share in Indian mill scale exports – Out of 383,130 MT mill scale exported from India, China imported 216,250 MT. Remaining quantity was imported by Phillipines and other countries.

KK Enterprises remained the largest mill scale exporter in FY17 – KK Enterprises exported 139,560 MT mill scale in FY17 followed by Gimpex at 78,500 MT.

Provisional data
Source: SteelMint Stats

80% of Indian mill scale exports were from Kandla port – 307,070 MT mill scale exported from India in FY17 were from Kandla port. Chennai port accounted for 14% followed by Vizag port with 6% share in India’s mill scale exports in FY17.