Mill Scale buying interest improves owing to better export demand. According to participants, Indian exporters have turned active post rising iron ore prices in Chinese market.
Current offers for mill scale of grade 68/70 Fe are assessed at INR 2,200-2,250/MT delivered Kandla port, which was earlier trading at INR 2,150-2,200/MT last week.
Indian mill scale export has dropped in FY16. Total of 0.30 MnT was exported in FY16 against 0.49 MnT in FY15.
Domestic Prices Unchanged
Mill scale offers in domestic market remains unchanged at INR 1,500-1,600/MT (ex – Raipur Plant). Participants expect prices to remain range bound in coming weeks.
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