Indian mill scale prices firm up in recent deals

Domestic mill scale prices are assessed at INR 3,900/t exw-Raipur, up INR 250/t w-o-w. The recovery in pellet offers and tight material availability led to the hike in mill scale offers. A few offers were even heard at around INR 4,000/t exw Raipur. Deals of around 5,000 t were heard concluded at increased offers.

On the other hand, the current assessment for mill scale (Fe 70/68%) stands at INR 5,450/t DAP Kandla, down INR 150/t w-o-w. However, no deals were heard concluded during the week.

Mill in western India concludes export deal - An export shipment of 50,000 t was heard from India's Kandla port to Malaysia recently at $90/t FOB, sources confirmed.

India's mill scale exports were recorded at 276,000 t in CY'21. Exports rose sharply by 80% as against 153,000 t in CY'20. As per SteelMint data, mill scale exports hit a four-year high in CY'21. The Philippines was the largest importer of Indian mill scale at 148,500 t in CY'21 followed by Vietnam at 84,800 t. Other importers were Indonesia and Malaysia at 26,000 t and 16,700 t, respectively.