India: Sponge iron export offers drop by $25-30/t

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Sponge iron (FeM 80%, 100% lump) export prices to Bangladesh fell by $30/t to $500/t CPT Benapole, equivalent to $530/t CFR Chittagong. Bids remain limited due to prevailing festive mood and weak steel demand in Bangladesh.
Offers for Nepal also plummeted by $25/t to around $530/t CPT Nepal for FeM 80%, lump 70%, fines 30%. Mills in Nepal are making limited sponge iron purchases due to power shortage.

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