SteelMint’s sponge iron (FeM 80%, lumps 100%) export price assessment to Bangladesh climbed $40/t, w-o-w, to $480/t CPT Benapole, equivalent to $510/t CFR Chittagong. About 3,000 t of deals were confirmed in the beginning of week but later buyers opted to wait and watch. Prices rose on increase in domestic offers by up to INR 3,000/t ($41/t), w-o-w. However, demand is expected to slow down due to higher offers, SteelMint notes.
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