Indian exporters hold Mill Scale offers despite falling Iron ore prices.
Indian Mill Scale prices remain stable at USD 121-122/MT CFR China (in bulk) despite sluggish Chinese spot market. Last trade was heard at around USD 121/MT CFR China (in bulk) from Kandla port.
“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 not a regular trade; however spot Iron ore prices directly impact Mill Scale. Current prices are at USD 121-122/MT CFR China, but at present, only few exporters are holding stock,” said an exporter based in Western India.
Another Indian exporter reported to have bought small quantity of 70/68% Mill Scale at INR 5,450-5,500/MT delivered Vizag port and INR 5,200/MT delivered Kandla port.
Mill Scale is a by-product generated during re-rolling process and generally used by Pellet manufacturers and Blast Furnace operators.
Indian Mill Scale export has increased recently, as it is duty free and without differential freight charges, unlike Iron ore.
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