Sponge iron export offers to Bangladesh dropped further to a three month-low since Nov’20 in recent deals. The fresh offers for FeM 80, 100% lumps are hovering at $340-345/t CPT Benapole (equivalent to $355-360/t CFR Chittagong Bangladesh). The prices fell significantly due to weak demand following rigorous drop in global scrap prices. Meanwhile, recently a sponge iron (FeM 80%, mix material) export deal for one rake was reported to Nepal at $320/t (loaded to rake) in eastern India basis.
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