- Buyers in Nepal and Bangladesh continue to procure cautiously
- Approximately 5,000 t of sponge iron export transactions recorded
India’s sponge iron export market witnessed a modest increase in offer prices during the week ended 6 August 2026, supported by the price rally in domestic sponge iron over the previous week. According to BigMint’s assessment, export offers increased by $2-5/t w-o-w, although buying activity from key overseas destinations remained subdued.
Pellet-based sponge iron export offers to Nepal were assessed at $275-280/t CPT Raxaul, while CDRI mix sponge iron (70:30) offers stood at $300-305/t CPT Raxaul. Meanwhile, 100% CDRI lump offers to Bangladesh were heard at $305-315/t CPT Benapole.
Despite the upward revision in offers, export demand remained weak as buyers in both Nepal and Bangladesh continued to procure cautiously. Market participants indicated that overseas buyers were reluctant to accept higher prices, preferring to defer purchases in anticipation of improved buying opportunities. The increase in export offers was cost-driven, reflecting the rally in India’s domestic sponge iron market rather than any meaningful improvement in export demand.
Approximately 5,000 t of sponge iron export transactions were recorded this week, significantly lower than volumes seen during stronger buying phases, highlighting the cautious sentiment prevailing in neighbouring markets.
Market participants noted that exporters are attempting to maintain higher offer levels in line with domestic sponge iron prices. However, sustained gains in export prices will depend on a recovery in buying interest from Nepal and Bangladesh. Until then, export trade is expected to remains limited, with negotiations continuing around lower bid levels despite firm seller expectations.
Leave a Reply