SteelMint’s benchmark sponge iron (80 FeM, 100% lumps) export price assessment hit an all-time high since the data maintained by SteelMint from Jan 2017.
About 12,000 t fresh deals have been reported by the Eastern India-based mills at an average price of around $455/t CPT Benapole, equivalent to $470-475/t CFR Chittagong, Bangladesh, surging by $30-35/t, w-o-w.
Indian sponge iron export demand remains active on account of rising scrap prices in the global market, which is also close to an all-time high. During Mar’21, Indian sponge exports to Bangladesh jumped nearly two-folds to 26,400 t against 13,400 t in Feb’21.
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