Indian sponge iron export prices remain stable in recent deals

SteelMint’s benchmark sponge iron (80 FeM, 100% lumps) export price assessment remained stable this week as demand modest with volatility in prices in Indian domestic market.

• About 5,000 t fresh deals have been reported at $425-427/t CPT Benapole, equivalent to $440-442/t CFR Chittagong, Bangladesh.
• Bangladesh remained as the top sponge iron importers from India, however imports fell by 33% y-o-y to 0.29 mn t in FY21. Bhutan saw a massive plunge in sponge iron imports to 0.07 mn t, while imports from Nepal rose by 8% to 0.17 mn t in FY21.