Indian Sponge iron export deals to the Bangladesh remained on lower side over national holidays of Muharram in the country. However despite limited deals the Indian exporters & manufacturers as well have kept offers firm.
Bangladesh is the major buyer of Indian Sponge iron. Indian exported about 385,000 MT Sponge during Jan-Aug’18, out of which exports to Bangladesh stood at 210,000 MT (55%).
Th latest export offers for Sponge lumps (FeM 78-80) by the producers in East & South India reported at USD 370-375/MT CPT Benapole (dry port of India & Bangladesh) & USD 390-395/MT CFR Chittagong. These prices are unaltered as against price assessment in the beginning of week & last week as well.
As per exporters small parcels have been sold in the beginning of week, however since last couple of days there are no inquiries ahead of holiday’s in Bangladesh on account of Muharram.
The suppliers are assuming buying interest likely to improve in coming week, with resumption of operations in local market of Bangladesh.
Imported scrap offers to Bangladesh have slightly gain amid few deals. The recent deals reported for containerised Shredded scrap at around USD 377-378/MT UK origin, CFR Chittagong. Meanwhile the prices of Shredded 211 scrap in containers from Europe stands at USD 372-375/MT, CFR and from UK and USA suppliers at around of USD 375-378/MT, CFR.
Further, South Africa origin HMS 1 scrap was heard to traded at USD 365/MT, CFR Chittagong. Offers for HMS 1 assessed stable at around USD 363-365/MT, CFR levels from UAE.
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