India: Sponge iron export offers fall by $35/t in fresh deals

SteelMint’s sponge iron (FeM 80%, lumps 100%) export assessment dropped $35/t to $480/t CPT Benapole, equivalent to $510/t CFR Chittagong. About 4,000 t of deals were reported this week.

• Offers to Nepal (FeM 80%, 70:30 lumps, fines) were floated at $480/t loaded on to rake, equivalent to $505/t CPT Nepal.
• Following a drop in domestic offers by INR 1,500/t ($20), w-o-w, sponge iron export offers, too, dropped.