Indian sponge iron export offers to Bangladesh surged by approximately $15/t, as per SteelMint’s weekly assessment. Current offers are hovering at $315/t CPT Benapole (equivalent to $325-330/t CFR Chittagong). The prices gained due to surge in domestic offers by INR 1,200/t ($17), w-o-w. A couple of Kolkata based exporters reported that buying inquiries are lower by $10-15/t compared to the offers. Also, the majority of buyers are holding back fresh orders on assumption of a slump in prices.
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