India: Sponge iron export offers stable, buyers cautious

SteelMint’s export price assessment for sponge iron (FeM 80%, 100% lumps) remains stable at $505/t CPT Benapole, equivalent to $535/t CFR Chittagong, Bangladesh. Major buyers are holding bids in hope of further corrections.

• Mills in Nepal have booked three mini rakes of sponge iron recently at around $495/t loaded on to rake, equivalent to $520/t CPT Nepal for FeM 80-81%, 100% lumps.