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 scope of correction. Indian steelmakers assess trade value of 68/70 Fe Mill Scale at around USD 84-86/MT CFR China.
In a dialogue with one of the exporter, he claimed that he has buying interest at around USD 84/MT CFR China for bulk shipment but he expects trade should take place at around USD 85-86/MT CFR.
Another exporter, who holds around 15,000 MT stock at different port mentioned that their cost of purchase is quite high and they will wait for market to improve.
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.
| Particular | Grade | Delivery | Price | W-o-W | M-o-M |
| Indian Export | 70/68% | FOB India | USD 70-72 | 0 | – 8 |
| Chinese Import | 70/68% | CFR China | USD 84-85 | 0 | – 10 |
| Indian Domestic | 70/68% | Ex-Raipur | INR 3,600-3,800++ | 0 | – 100 |
| Indian Domestic | 70/68% | Ex-Kandla | INR 3,100-3,200++ | 0 | +100 |
++ Basic prices; Excise and Taxes Extra
Source: SteelMint Research
Trade-wise
- Prices in Raipur are hovering in the range of INR 3,600-3,800/MT ex-works
- Kandla’s prices are heard to be at INR 3,200/MT delivered Port
- Last trade of 70% Fe Mill scale was settled at USD 72-74/MT FOB Chennai/Kakinada
Indian Ferrous Scrap and Mill Scale Trade Meet, Hyatt, Chennai, 21-22 Nov
Join us and explore opportunities at one of India’s largest trade meet on Ferrous Scrap and Mill scale to be held in Chennai on 21-22 Nov, 2014 at Hotel Hyatt Regency. This summit is expected to be attended by over 200 delegates from 100 companies across the globe.
Meet the following People at One Place
- S.M. Kothari, MD, Kamachi Group
- Sanjay Tulsyan, MD, Tulsyan NEC
- Gautam Reddy, CEO, Viki Industries
- Anurag Agarwal, Director, MS Agarwal Foundries
- Raj Vaidhy, Director, Indicaa Group
- Sanjay Goel, MD, RKSK (Rama Group)
- Piyush Agrawal, Purchase, Bagadiya Brothers
- Atsushi Koga, DGM Energy & Mineral Resources Sojitz Corp, Japan
- Purshottam Parolia, MD, Nihon Ispat
- Shravan Agrawal, Director, Guardian
- Abhijeet Mahanta, India Director, EMR Group
- Hitesh Agarwal, Purchase, JSL
- Md. Imtiaz Chowdhary, Supply Chain, Bangladesh Steel Rolling Mill
- VR Sharma, CEO, Abul Khair Group
- Nikunj Agrawal, AGM RM, Vandana Global & many others
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