India: Sponge iron export offers decline by $9-12/t w-o-w amid modest buying
India's sponge iron export offers to both Nepal and Bangladesh fell sharply amid weak enquiries. Offers to Nepal declined by $9/t w-o-w to $311/t CPT Raxaul, while offers to Bangladesh fell by a steeper $12/t to $316/t CPT Benapole. BigMint recorded bookings for around 4,700 t of sponge iron for Nepal, while approximately 5,000 t were concluded for Bangladesh this week.