Mill Scale prices in Chinese Spot market went down sharply. Current prices are at around USD 109-110/MT CFR China, according to Indian Exporters.
Mill Scale offers in Chinese market dropped significantly. Current prices are prevailing in the range of USD 109-110/MT CFR China; however no deals have been heard concluded. Indian exporters say, prices have gone so low that nobody is keen to offer.
Indian exporters have cut their purchase prices in domestic market by INR 200-300/MT. Current buying interest is seen at INR 5,000/MT delivered Kanlda port and around INR 5,200-5,300/MT delivered Vizag port.
Some exporters have heard to be offering 70/68% Mill Scale at around USD 102-103/MT FOB Chennai (in bulk) but failed to get any interest from buyers.
Mill Scale is a commodity which takes time to stock as it is sourced from small & medium rolling mills in very small quantity. It is a by-product generated during re-rolling process and generally used by Pellet manufacturers and Blast Furnace operators.
It is not a regular trade; however spot Iron ore prices directly impact Mill Scale.
Indian Mill Scale export has increased recently, as it is duty free and without differential freight charges, unlike Iron ore.
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