Sponge iron export offers declined this week by $4/t, amid limited buying activity. Due to new policies implemented by the government of Nepal following the recent budget announcement. As a result, export prices have dropped to $406/t CPT Raxaul for FeM 80% (70:30 mix) destined for Nepal. In contrast, prices for Bangladesh remain stable at $408/t CPT Benapole. Approximately 5,000 t of sponge iron were sold to Bangladesh this week.
