Indian exporters cut mill scale purchase prices up to Rs 700/t

With falling iron ore and mill scale prices in spot market in China, Indian exporters have cut purchase price of mill scale up to Rs 600-700/t ($10-13).

“Buying has been extremely poor, prices have gone down up to Rs 700/t in domestic market.Last offer was heard at Rs 4,900-5,000/t ($89-90) ,Delivered Vizag Port.” said an Indian trader of mill scale.

Indian exporters are unwilling to buy in quantity looking at uncertain prices in Chinese markets, he further added.