Indian Mill scale exporters have kept their offers unchanged, anticipating that Iron ore prices have bottomed out.
Indian Mill scale exporters prefer to keep their offers unchanged this week expecting that spot Iron ore prices have bottomed out and there is little correction. However, Chinese market is closed from 01-07 Oct, 2014 for golden week.
Speaking to Indian exporters, it is assessed that offers are hovering in the range of USD 85-87/MT CFR China (in bulk), but there is no firm indication as Chinese buyers are inactive at the moment.
Indian domestic prices quite firm owing to decent demand from Pellet and sinter plants, which use Mill scale for blending purpose because of high iron content.
Trade-wise
- Prices in Raipur are hovering in the range of INR 3,600-3,700/MT ex-works
- Kandla’s prices are heard to be at INR 3,200/MT ex-works
- Last trade of 70% Fe Mill scale was settled at USD 72-74/MT FOB Chennai
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