Indian sponge iron export demand remains moderate despite slight change in offers

SteelMint’s weekly export price assessment for sponge iron remained largely stable following volatility in domestic offers on subdued demand. About 7,000 t fresh deals have been reported by a couple of exporters from Kolkata, Eastern India at around $405-408/t CFR Chittagong, Bangladesh. According to them, most of the recent deals were made through the sea route as congestion period on Benapole port increased to around 25 days than earlier i.e. about 5-10 days. The deals via road delivery are affected as food items are priority for the government, which is creating hurdles for essential products’ clearing.