India: Sponge iron export offers to Bangladesh fall $15/t

SteelMint’s weekly sponge iron (FeM 80%, 100% lump) export price assessment for Bangladesh dropped by $15/t on account of limited domestic demand and poor inquiries from the neighbouring nation. Current offers hover at around $455/t, CPT Benapole – equivalent to $480/t, CFR Chittagong. Major Bangladeshi mills are out of the market at present and hence no fresh deals have been reported of late, Kolkata-based exporters informed. Indian domestic prices of sponge iron dropped by up to INR 1,000/t ($14), w-o-w, as per SteelMint assessment.