- Lower offers revive buying from Nepal, Bangladesh
- Export deals for over 13,000 t concluded this week
Indian sponge iron (DRI) export offers declined by $7-10/tonne (t) w-o-w on 25 September 2026, with prices correcting across Nepal and Bangladesh amid softer domestic sponge iron prices and competitive seller offers. The correction encouraged buying interest in both markets, with deals for around 13,200 t concluded during the week.
Nepal buying strengthens at lower offers
Export offers for pellet-based DRI to Nepal declined by $10/t w-o-w to $320/t CPT Raxaul, while CDRI mix DRI offers fell by $7/t to $346/t. The lower offers improved buying interest, particularly for pellet-based DRI, as buyers responded to more competitive pricing. Deals for around 7,200 t were concluded at varied price levels during the week.
Bangladesh bookings improved
Export offers to Bangladesh declined by $10/t w-o-w to $360/t CPT Benapole. The price correction prompted increased buying activity, with deals for around 6,000 t concluded during the week. The improvement in bookings across both destinations highlights that lower export offers encouraged buyers to return to the market after the recent price rally.
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