Demand for Indian sponge iron (FeM 80%, 100% lumps) among major buyers in Bangladesh remains weaker than usual, as only about 5,000 t of deals were recorded this week, and that too only to a few mid-sized plants. Prices remained stable following volatility in the Indian domestic market. Deals this week were reported at an average price of $430/t CPT Benapole, equivalent to $450/t CFR Chittagong.
Major Bangladesh-based plants have postponed their purchases till after Eid, resulting in limited demand for sponge iron, SteelMint notes.
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