Sponge iron export offers saw a significant decline of $8-12/t w-o-w, driven by limited demand in the global spot market for sponge iron this week. Offers for Nepal dropped to $391/t CPT Raxaul due to weak demand, with no buying activity reported this week. Approximately 5,000 t of sponge iron were sold to Bangladesh at $396-$398/t CPT Benapole.
