Author: Prashasti Giri
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Indian sponge iron export offers drop following decline in domestic prices
Recently, three rakes (7,700 t) of sponge iron were sold at $380-385/t LTW eastern India, equivalent to $395-400/t CPT Nepal (FeM 80%, lumps 70%, fines 30%). With this, SteelMint’s weekly price assessment dropped by $30/t. Prices fell following a slump in domestic offers by INR 1,500-2,500/t ($18-31/t), w-o-w, in eastern region. Also, 5,000 t of…