India: Sponge iron export offers to Nepal, Bangladesh rise $8-10/t w-o-w

BigMint’s weekly assessment of sponge iron export offers shows an uptick this week of $8-10/t. Fluctuations in domestic sponge iron prices and weak finished steel sales have kept buying activity low. Export prices rose to $355/t CPT Raxaul for FeM 80% (70:30 mix). About 2,000 t of sponge iron deals to Bangladesh were tracked this week, with prices reaching $365/t CPT Benapole.