India: Mill scale export shipments up in Jan-Jul'21, boosted by SE Asia bookings

Mill scale export shipments from India increased sharply in the first half (H1) of 2021 on active bookings concluded for South East Asian countries.

Mill scale export shipments in the Jan-Jul'21 period increased four-times y-o-y to 187,050 t against 38,500 t recorded in the corresponding period last year, according to data maintained with SteelMint.

Compared with the last couple of years, India recorded the highest export shipments in May'21 of around 75,500 t to the Philippines and Malaysia.

On a monthly basis, mill scale export shipments were recorded at around 49,500 t in Jul'21 compared to 13,500 t in Jun'21.

Philippines - top importer: The Philippines was the largest importer of Indian mill scale shipments in the last seven months at around 99,000 t followed by Vietnam and Indonesia at 62,050 t and 26,000 t respectively.

Kandla's share in exports - Kandla Port accounted for around 89% of Indian mill scale export shipments, while the balance 11% was done from Chennai Port in the last seven months.

SteelMint assessed the mill scale price at INR 9,250/t DAP Kandla on 14 Aug'21, lower by INR 150/t w-o-w. Export enquiries remain supported, which have prevented any significant correction in domestic prices.

For exports, active trade for around 17,000-18,000 t of mill scale was recorded at $140-145/t for Vietnam, while 15,000 t to Malaysia was concluded at $140/t on FoB basis, sources informed.