Indian mills conclude 3,000 t sponge iron export deals to Nepal

Jharkhand, eastern India-based plants confirmed around 3,000 t of sponge iron (FeM 80%, lumps 100%) deals to Nepal at around $425/t on CPT basis. Sponge iron prices in the Indian domestic market remain volatile on subdued demand.

Nepal’s sponge iron demand improved significantly on rising melting capacities there. Monthly sponge iron imports into Nepal increased to around 30,000 t as against 15,000-20,000 t in Sept’21.