Indian Mill Scale exporters cut purchases from domestic market on falling global prices 

Indian exporters have cut their purchase price for Mill Scale by Rs 200-250 per ton on falling spot iron ore prices in Chinese market.Steel prices along with sea borne iron ore prices fell sharply in China after government intended to impose tax to control rising property prices.

INDIA-

Indian exporters cut their purchase prices to Rs 4,800-4,900/t, delivered Vizag port, down by Rs 200 from last week. Exporters highlight that Chinese buyers are reluctant to buy cargoes at this point and they have cut their offers to $137-138/t CFR China (in bulk).