SteelMint’s weekly sponge iron (FeM 80%, 100% lump) export price assessment for Bangladesh remains stable following a round of volatile domestic prices and disparity between bids and offers in export deals. Current offers are reported at $480-485/t, CPT Benapole, equivalent to $500-505/t, CFR Chittagong. However, buying interest has reportedly fallen by $10-15/t. As raw materials prices remain high, sources believe sponge iron export prices are unlikely to fall. Buyers may have no option but to accept prevailing offers to secure material, it is believed.
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