Indian Sponge Iron Export Prices Fall Slightly in Recent Trades
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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
