Indian Mill Scale Exporters keep Offers Unchanged

Indian Mill Scale exporters keep their offers at similar levels; Current offers prevailing in the range of USD 108-112/MT FOB India (in bulk)

Indian Mill Scale exporters have kept their offers at similar levels to Chinese buyers this week. Current offers are hovering at around USD 108-112/MT FOB India and around USD 132-135/MT CFR China for grade 68/70% Fe.

According to trade sources last deal of around 16,000 tonnes was done at around US$ 108/MT  FOB Chennai (in bulk) in the month of November.

Mill scale is a by product generated during re-rolling process and used by pellet and blast furnaces because of high iron content. Indian exports of Mill Scale have gone up recently as it does not attract any export duty or differential freight charge by railways, unlike iron ore.

Trade Wise

• Indian exporters offering Mill Scale of grade 68/70 Fe at around USD 132-135/MT CFR China.
• Last deal of 16,000 tonnes was heard done from Chennai at USD 108/MT on FOB basis.
• In domestic market Mill Scale prices are hovering in the range of INR 6,100-6,200/MT delivered Vizag port.
• Iron Ore fines of grade 63% offered at around INR 4,700/MT delivered Vizag port.
• Iron Ore fines of grade 55% hovering at INR 3,100-3,200/MT delivered Vizag port.
• Odisha miners offering 63% Fe Iron fines at INR 1,800-2,200/MT Ex Mines (Incld Royalty).