No fresh sponge iron export deals have been made to Bangladesh this week due to weak demand in the local finished steel market along with competitive offers of imported scrap, sources reported to SteelMint. The current offer of sponge iron is at $305-310/t CPT Benapole (equivalent to $325/t CFR Chittagong). While containerized HMS 1&2 (80:20) from UK/Europe is being offered at $320-325/t CFR Chittagong. Hence, buyers are looking for sponge iron at lower offers.
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