India: Sponge iron export offers fall to four-month low

SteelMint’s sponge iron, (FeM 80%, lumps 100%), export price assessment fell by $10/t to $440/t CPT Benapole, equivalent to $470/t CFR Chittagong. About 2,000 t of deals were confirmed.

• A few parcels of sponge C-DRI (70% lumps, 30% fines) were sold to Nepal at around $415/t exw-eastern India, equivalent to $440/t CPT Nepal.
• Sponge prices remain under pressure on bearish trends and falling steel prices.