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Indian Sponge Iron Export Prices Fall Slightly in Recent Trades

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Sponge Iron
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14 Dec 2018, 12:04 IST
Indian Sponge Iron Export Prices Fall Slightly in Recent Trades

Sponge iron export offers from Eastern India have slightly corrected by USD 5/MT in fresh deals concluded to Bangladesh. The prices plunged on account of falling Indian domestic prices, which slump close to INR 500-1,200/MT (USD 7-17) in a week's duration.

The latest export price assessment for lumps grade FeM 78-80 sponge iron stood at USD 325-330/MT CPT Benpole (dry land port of Bangladesh & India) & USD 345-350/MT CFR Chittagong, Bangladesh as against last week at USD 330-335/MT CPT & USD 350-355/MT CFR Chittagong; down by USD 5/MT, W-o-W.

As per an exporter the fresh deals have been concluded close to USD 327-329/MT on CPT Benapole. As per them, demand is stable from the mid & large mills based in Dhaka, Bangladesh.

The imported scrap offers to Bangladesh have slightly fallen by about USD 5/MT (W-o-W) and stood at close to USD 350-355/MT CFR Chittagong, for containerized Shredded grade from Europe and USA.

Sponge Iron Prices (78-80 FeM)

Particular/Delivery Prices A Week Ago Changes in $
Ex-Rourkela, East India INR 20,300-20,500 ($283-286) INR 20,800-20,900 ($290-292) -6.5
Ex-Jharkhand, East India INR 20,400-20,600 ($284-287) INR 21,000-21,200 ($293-296) -9
Ex-Bellary, South India INR 20,300-20,500 ($283-286) INR 20,800-20,900 ($290-292) -6.5
CPT Benapole, Indian origin $325-330 $330-335 -5
CFR Chittagong, Indian origin $345-350 $350-355 -5

Source: SteelMint Research

14 Dec 2018, 12:04 IST

 

 

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