Indian exporters have received bids for 70/68% Fe Mill Scale at around USD 105-106/DMT CFR China (in bulk).
- Chinese buyers heard to have bid for ready cargo at USD 105-106/MT CFR China
- Spot 62% Iron ore prices stable at USD 95/MT CFR China
Mill Scale offers remain steady at around USD 107-109/MT CFR China (in bulk). Prices are in line with spot Iron ore prices, which recovered from 3-year low of USD 89/MT.
Trade sources confirmed that some bids for ready cargo has been made at USD 105-106/MT CFR China, from Chinese traders against Indian offers of USD 107-109/MT CFR. Sources also mentioned that with better realizations in domestic market, not many exporters are holding stock at port.
Last trade was heard to be settled at INR 4,200-4,300/MT (delivered Kandla port). India had exported around 1.2 MnT of Mill Scale in FY14.
Trade Alerts
- Indian exporters see workable price of USD 105-106/MT for 70/68% Fe Mill Scale on CFR China basis
- Local trades are taking place at INR 4,200-4,300/MT (delivered Kandla port)
- Last trade from India was settled at USD 85-86/MT FoB Chennai port
Mill Scale is a byproduct generated during re-rolling process. It does not attract any export duty of differential freight rates unlike Iron ore.
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