India: Export deals for about 17,500-t sponge iron concluded for Nepal, Bangladesh

Sponge iron export deals for approximately 17,500 t were confirmed for Nepal and Bangladesh this week. The volume reflects increased procurement w-o-w from India, amid market volatility.

• Nepal: India’s offers remained firm w-o-w at $346/t CPT Raxaul. Transactions of 6,500 t were recorded.
• Bangladesh: Sellers kept offers range-bound on active buying interest, with deals concluded at $355-358/t CPT Benapole. Procurement of approximately 11,000 t was recorded.