‘MV Spar Canis’ vessel carrying 33,000 MT mill scale has been recorded at Kandla Port (Indian West Coast). Market participants confirmed that cargo is shipped by KK Resources, India based mill scale exporter. Sources also confirmed that cargo will be shipped to Philippines.
“This is a two port shipment. 17,000 MT is loaded from Dharamtar Port and 16,000 MT will be loaded from Kandla Port. Cargo will be shipped to Philippines”, said a trader close to this deal.
Prior to this, the company had shipped about 34,000 MT mill scale to Philippines in Aug’15 at an average price of USD 58/MT FoB India, according to customs data.
Mill scale exports from India are falling consistently due to lower iron ore prices in global market.
Trade-wise
1. Mill scale prices expected at USD 52-55/MT, CFR China.
2. Prices in Kandla are assessed at around INR 2,000-2,200/MT (delivered to port).
3. Mill scale prices in Raipur are in the range of INR 2,500- 2,700/MT.
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