Indian sponge iron export prices gain by $15-20 on active demand

Sponge iron export demand remained strong with frequent deals reported from eastern India based participants. This week, a total of around 15,000 t deals were reported to Bangladesh at the range of $370-375/t CPT Benapole (equivalent to $385-390/t CFR Chittagong). Meanwhile, last week, a total of 10,000 t deals were recorded at the range of $355-360/t CPT Benapole. Continuous surge in global scrap offers amid rising container shortage was cited as the reason behind active demand, sources told SteelMint.