For the Quarter Ending June 2026
Mill Scale Price in APAC
- In India, the Mill Scale Price Index rose by 0.0% quarter-over-quarter, reflecting balanced supply-demand fundamentals overall
- The average Mill Scale price for the quarter was approximately USD 75.00/MT on a spot-equivalent basis
- Mill Scale Spot Price movements reflected consolidated seller discipline and limited speculative buying, keeping volatility subdued
- Mill Scale Price Forecast indicates moderate firmness driven by steady exports, constrained merchant availability, and logistics
- Mill Scale Production Cost Trend remained neutral as inland freight and input costs stayed largely unchanged
- Mill Scale Demand Outlook shows subdued domestic procurement before monsoon, with export inquiries modestly supporting intermittent rebounds
- Mill Scale Price Index readings reflected a narrow trading band, with inventories and rail flows moderating offers
- Export availability and traders' inventories determined near-term direction, while logistics and policy developments influenced export parity dynamics
Why did the price of Mill Scale change in June 2026 in APAC?
- Abundant domestic generation and eased rail logistics increased spot availability, reducing urgency and pressuring prices downward
- Weaker export demand from key buyers reduced outlet options, prompting exporters to lower procurement bids accordingly
- Stable input costs removed cost-push pressures, while seasonal monsoon patterns moderately curbed downstream construction and buying activity
Mill Scale Price in North America
- In the United States, the Mill Scale Price Index declined by 2.7% quarter-over-quarter, with the average quarterly price at approximately USD 68.00/ST (FOB U.S. Midwest generator site), based on the assessment period.
- Mill Scale Spot Price eased gradually through April and May before finding a floor in June, as domestic steel mill generation remained steady while export buying interest from Asia softened.
- Mill Scale Production Cost Trend remained largely neutral for generators, as collection, magnetic separation, and inland freight costs stayed stable with no major fuel or labor cost spikes during the quarter.
- Mill Scale Price Forecast indicates a cautiously stable outlook for Q3 2026, with potential modest upside if Turkish and Chinese sinter-plant restocking resumes later in the summer.
- Mill Scale Demand Outlook is mixed; domestic demand from U.S. cement and clinker producers remained steady, while export demand from Asian sinter plants weakened due to slower steel production in China.
- Major integrated steel mills maintained consistent generation rates at 78–80% capacity, ensuring adequate availability for both domestic off-takers and export traders.
- Great Lakes and Gulf Coast port inventories increased by approximately 9% over the quarter, exerting downward pressure on the Mill Scale Price Index as buyers delayed purchases in anticipation of further price softening.
Why did the price of Mill Scale change in June 2026 in North America?
- Prices decreased in June 2026 primarily due to a slowdown in export procurement from Chinese sinter plants, who reduced intake following a dip in domestic steel margins and ample domestic iron ore concentrate availability.
- Concurrently, improved rail logistics from Midwest mills to Gulf Coast ports reduced freight bottlenecks, increasing prompt supply and lowering the Mill Scale Spot Price as sellers competed for limited export container slots.
- Reduced buying from Turkish mills, who shifted toward higher-grade iron ore fines due to environmental regulations, further weakened export parity prices and pressured the Mill Scale Price Index downward during June.
Mill Scale Price in Europe
- In Europe, the Mill Scale Price Index fell by 3.1% quarter-over-quarter, with the average quarterly price at approximately EUR 62.00/MT (FOB European mill, basis Rotterdam), based on the assessment period.
- Mill Scale Spot Price softened throughout the quarter, with occasional brief rebounds when Mediterranean freight rates spiked, but overall trend remained negative due to adequate regional supply.
- Mill Scale Production Cost Trend remained essentially flat, as European mills absorbed collection and processing costs internally with no significant changes in energy or labor inputs for scale handling.
- Mill Scale Price Forecast projects continued range-bound trading in Q3 2026, with upside limited unless North African and Middle Eastern cement producers increase import volumes.
- Mill Scale Demand Outlook is subdued; European cement and clinker producers reduced mill scale intake in favor of cheaper by-product alternatives, while export appetite from Asian buyers remained tepid.
- Major European integrated producers, including ArcelorMittal and Tata Steel Europe, operated at 70–75% capacity, generating ample scale volumes that kept the Mill Scale Price Index under pressure.
- Rotterdam and Antwerp stockpiles grew by 11% over the quarter, as export vessels to Asia were delayed due to routing changes around the Red Sea, increasing above-ground availability.
Why did the price of Mill Scale change in June 2026 in Europe?
- Prices decreased in June 2026 primarily due to a combination of weaker North African cement demand (down ~4% month-over-month) and increased availability of competing ferrous by-products such as EAF dust and iron ore pellet fines.
- Several European mills released additional spot volumes in June to clear yard space ahead of summer maintenance shutdowns, increasing supply and forcing the Mill Scale Spot Price lower.
- A stronger Euro against the U.S. Dollar made European mill scale less competitive in dollar-denominated Asian markets, reducing export interest and further pressuring the Mill Scale Price Index during June.
For the Quarter Ending March 2026
Mill Scale Prices in North America
- In North America, the Mill Scale Price Index remained firm-to-stable during Q1 2026, supported by steady demand from steel recycling and sintering operations in integrated steel plants.
- The average Mill Scale Spot Price reflected a narrow trading range, indicating balanced availability and moderate procurement from steel manufacturers.
- Mill Scale Price Forecast indicates a stable outlook with slight firm bias, supported by consistent export interest and steady steel production activity.
- Mill Scale Production Cost Trend remained stable, as collection from rolling mills and steel processing units continued without major disruptions.
- Mill Scale Demand Outlook remained steady, driven by sinter plants, pelletizing operations, ferroalloy production, and ironmaking applications in steel manufacturing.
- Mill Scale Price Index movement was supported by consistent steel output and stable procurement from downstream steel value chain participants.
- Inventory levels remained balanced across supply chains, preventing any sharp price volatility during the quarter.
Why did the price of Mill Scale change in March 2026 in North America?
- Stable steel production activity ensured consistent consumption of Mill Scale in sinter and pellet feed applications.
- Balanced supply from steel rolling mills prevented any supply tightness, keeping the Mill Scale Price Index stable.
- Moderate export demand supported price firmness, while lack of major disruptions limited volatility.
Mill Scale Prices in APAC
- In India, the Mill Scale Price Index rose by 7.49% quarter-over-quarter, supported by export enquiries
- The average Mill Scale price for the quarter was approximately USD 75.00/MT delivered to domestic mills
- Mill Scale Spot Price remained firm on brisk western coast trades and limited import availability
- Mill Scale Price Forecast signals modest pre-monsoon restocking gains followed by seasonal cooling pressure ahead
- Mill Scale Production Cost Trend showed stable inland freight and compliance costs maintaining offer floors
- Mill Scale Demand Outlook remains balanced as export enquiries offset routine domestic consumption and stocking
- Mill Scale Price Index showed range-bound behaviour amid steady yard inventories and limited transport disruptions
- Major western-coast mills reported normal runs, sustaining generation and limiting potential supply-side tightness near ports
Why did the price of Mill Scale change in March 2026 in APAC?
- Export enquiries from Chinese pelletizers increased uptake, tightening spot availability and supporting price uplift momentum
- Stable domestic generation and routine offtake kept inventories near operating norms, limiting additional upward pressure
- Freight and compliance costs were steady; no major logistics disruptions occurred to alter market balance
Mill Scale Prices in Europe
- In Europe, the Mill Scale Price Index remained stable-to-firm during Q1 2026, supported by consistent steel production and steady demand from sintering operations.
- The average Mill Scale Spot Price showed limited volatility, reflecting balanced supply from steel mills and recycling channels.
- Mill Scale Price Forecast indicates a stable outlook with mild upward bias, driven by steady steel sector activity and export demand.
- Mill Scale Production Cost Trend remained stable, supported by consistent collection from steel rolling and processing facilities across the region.
- Mill Scale Demand Outlook remained steady, driven by blast furnace sintering, pellet production, and iron ore substitution applications.
- Mill Scale Price Index movement was supported by steady steel output and consistent downstream procurement activity.
- Steel mills maintained balanced inventory levels, avoiding any significant supply-demand mismatch.
Why did the price of Mill Scale change in March 2026 in Europe?
- Stable steel production supported consistent Mill Scale consumption in sintering and pelletizing operations.
- Balanced supply from steel mills and recycling streams prevented oversupply pressure in the market.
- Export-linked demand from global steel markets helped maintain price stability and mild firmness.
