India: Export deals for over 11,000 t of sponge iron concluded for Nepal, Bangladesh

India’s sponge iron export offers to Nepal and Bangladesh declined $5-9/t w-o-w. Sellers reduced offers to stimulate demand. Approximately 11,500 t were booked for both regions, with most orders coming from Bangladesh.

• Nepal: Offers declined to $338-341/t CPT Raxaul, pressured by weak demand and cautious market sentiment.
• Bangladesh: Improved buying was recorded at $340-342/t CPT Benapole, with sellers offering discounts to encourage buyer interest.