Indian Sponge iron export demand remained slow over increased offers. India’s current export offers for Sponge iron lumps, bag packed (FeM 78-80) hovering at USD 320/MT CPT Benapole (dry port of India & Bangladesh) & USD 335-340/MT CFR Chittagong, Bangladesh for 80 FeM coal based sponge lumps.
As per an exporter in East India- Kolkata, the small mills in Bangladesh are silent at current offers. Limited deals were concluded at USD 317-318/MT CPT Benapole. Sources reported the export deal concluded from Jharkhand region. As of now these days no major buying interest from Bangladesh based furnaces was heard
The domestic sponge offers in Durgapur (India) are assessed at INR 21,400-21,600/MT & in Rourkela at INR 20,200-20,400/MT for 78-80 FeM C-DRI ex-works & excluding GST at 18%.
Imported scrap prices to Bangladesh: Buyers bidding for Shredded scrap in containers for UK/Europe origin heard at USD 345-350/MT, CFR Chittagong, while supplier offers heard at USD 350-355/MT levels.
— Bangladesh imported 236,783 MT ferrous scrap in seven bulk vessels arrived at berth in Jan’19 observing a jump of 278% M-o-M against 62,710 MT in Dec’18.
Bangladesh Steel mills prefer buying local scrap over imported, as prices turned down by BDT 500-1,000/MT W-o-W & heard at around USD 35,500/MT (USD 423) inclusive of local taxes.
Leave a Reply