A premium grade sponge iron manufacturer in Odisha has reported an export deal to Nepal for a mini rake (around 1,250 t) at an average price of $445/t (loaded on to rake), equivalent to $470/t CPT Nepal. The material consists of FeM 80%, mix of 70% lumps and 30% fines. Sponge iron prices in the Indian market remains strong following production curbs along with low seasonal productivity. Sponge iron prices in Odisha increased by INR 1,100/t ($15) in one week, as per SteelMint’s assessment.
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