This week, there was a significant increase in domestic sponge iron prices by INR 1,400-1,550/t ($16-18/t) in Durgapur and Rourkela regions. This increase resulted in export offers for Nepal increasing by $16/t, reaching $379/t CPT for FeM 80% (70:30 Mix), while prices for Bangladesh rose by up to $14/t to $386/t CPT Benapole. About 5,000 t of sponge iron were sold at $375/t CPT Nepal. Furthermore, about 3,500 t of sponge iron were sold to Bangladesh at around $385/t CPT Benapole.
