Indian sponge iron export offers are almost remained firm to Bangladesh, as per SteelMint weekly price assessment. Prior to this during last week (week 45) the offers were increased by USD 5-10/MT which has made buyers cautious over higher offer prices.
The fresh export offers for 80 FeM sponge lumps are reported at USD 315/MT against last week offers of USD 315-320/MT, CPT Benapole (land port of Bangladesh and India).
“Purchase interest is mute at the offers of USD 315/MT and the last deal was settled at USD 310/MT, CPT Benapole. The smelters in Bangladesh are cautious over similar offers of scrap and low metalization – Sponge iron” stated a trade participant who deals in sponge iron exports and largely with Bangladesh.
Notably, the offers for Imported shreded scrap & Indian sponge iron exports are equal at around USD 330/MT CFR Chittagong, Bangladesh in containers, thus the buyers looking sponge purchase at less price of USD 5-10/MT than the current offers.
Western India – Gujarat Based Mono Steels is also offering sponge iron for exports at USD 330/MT CFR Chhittagong. The last deal by the company officials reported at USD 320/MT for about 3,000 MT on CFR Chittagong – Bangladesh basis.
Further, the price assessment for HMS 1&2 (80:20) from Dubai origin stood at USD 308-315/MT while HMS 1 from other major origins like Australia and New Zealand assessed at USD 315-325/MT, CFR Port Chittagong.
Indian Sponge Iron Exports Increase 50% Y-o-Y
India’s sponge exports increase 50% in first 8 month’s of CY 2017. According to data maintained by SteelMint stats, the nation has exported about 300,000 MT Sponge iron during Jan-Aug 2017 against same preceding CY 2016 at 200,000 MT.
During CY 2017 (Jan-Aug), the largest importers of Indian made Sponge iron was Bangladesh (50.04%), Thailand (10.60%), Indonesia (9.49%), Kuwait (9.47%) & also in line countries like Malaysia, Nepal & South Africa. And the major exports were done from the Indian ports like Paradeep, Mormugao & Haldia.
Leave a Reply