India: Deals of 8,500-t sponge iron were concluded for Nepal, Bangladesh

Sponge iron export prices increased by $7-18/t this week, to $371/t CPT Raxaul for Nepal and $379/t CPT Benapole for Bangladesh, driven by moderate buying interest on varying offers. However, buyers remained cautious, as demand for finished steel was relatively muted w-o-w. Deals of approximately 8,500 t of sponge iron were concluded, destined for Nepal and Bangladesh.