SteelMint’s benchmark sponge iron (80 FeM, 100% lumps) export price assessment remained stable this week as bids fell along with volatility in prices in Indian domestic market on subdued demand. As per suppliers, the buyers have temporarily held fresh orders after healthy bookings for few days. The current offers are reported at $425-430/t CPT Benapole, equivalent to $440-445/t CFR Chittagong, Bangladesh. Participants are expecting demand to remain supported on account of higher scrap prices amidst supply shortage.
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