India: Mill scale exports hit-four year high in CY'21

India's mill scale exports were recorded at 276,000 tonnes (t) in CY'21. Exports witnessed a sharp increase of 80% against 153,000 t in CY'20. As per data maintained with SteelMint, mill scale exports have hit a four-year high in CY'21.

Philippines largest importer: The Philippines was the largest importer of Indian mill scale with 148,500 t in CY'21 followed by Vietnam at 84,800 t. Other major importers were Indonesia and Malaysia at 26,000 t and 16,700 t respectively.

India's mill scale exports to China continued to remained nil in CY'21 after the latter imposed ban on imports of the material.

Towards the end of Nov'21, India's mill scale exports regained momentum after three months gap following a spurt in global iron ore fines prices. An export shipment of 49,500 t of mill scale was heard from India's Kandla Port to the Philippines.

Outlook: Mill scale export volumes from India are expected to remain supported in Jan'22. As per market sources based in western India, few inquiries for exports have been recorded from South East Asian nations this month.

Chinese spot iron ore fines Fe 62% prices opened at $119.50/t CNF China in the beginning of last week and were assessed at $127.30/t towards the weekend. Seaborne iron ore prices rose on firm buying interest and limited spot availability, alongside fresh transactions.