Bangladeshi mills are actively participating at firm sponge offers from Indian mills, exporters from eastern India quoted.
Indian sponge iron export offers are reported unaltered as against last week at around USD 310/MT CPT (dry port of India & Bangladesh) & USD 330/MT CNF Chittagong, Bangladesh.
As per exporters, demand is better at the prevailing offers as it is competitive than the imported scrap offers to Bangladesh.
SteelMint being analysed that, scrap offers to Bangladesh are trending on higher side range than the sponge iron and reported at around USD 350-355/MT CNF Chittagong, for containerised shredded scrap. As per assessment, scrap offers moved up by USD 5-10/MT, W-o-W.
Meanwhile as per them, better domestic finished steel demand in Bangladesh is another key factor, which influenced re-rollers to actively go for raw material sourcing.
As per weekly assessment, the local rebar prices in Bangladesh increased during last week by around BDT 500/MT (USD 6/MT) through the mid-sized mills. Meanwhile the large mills were maintained offers firm during the week.
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