India: Sponge iron export offers for Nepal, Bangladesh plummet $14-15/t w-o-w

India’s sponge iron export offers for Nepal and Bangladesh declined by $14-15/t w-o-w, amid modest procurement at lower prices. Around 9,500 t deals were concluded for Nepal and Bangladesh this week.

• Nepal: Offers softened to $335-340/t CPT Raxaul amid subdued demand and minimal trade activity.
• Bangladesh: Offers ranged within $340-345/t CPT Benapole, with moderate demand present due to industrial and construction steel production.