BigMint’s weekly assessment for sponge iron export offers indicates a downfall this week by $7-10/t. Despite this decrease, increased buying activity was observed from the Nepal region at varying offers. However, no buying activity was recorded for Bangladesh this week due to internal disturbances. Export prices have dropped to $348/t CPT Raxaul for FeM 80% (70:30 mix). Approximately 7,000 t of sponge iron deals were recorded destined for Nepal on a w-o-w basis, with prices ranging between $348-$352/t CPT Raxaul.
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