Sponge iron FeM 80% (70:30 mix) prices increased by $4/t w-o-w to $383/t CPT Nepal, as per BigMint assessment, while prices reached $390/t CPT Benapole for offers to Bangladesh. Despite the rise in prices, there was no export activity recorded this week. This can be attributed to subdued demand as buyers remained cautious in view of the current weakness in global steel demand.
