India: Sponge iron export offers plunge amid drop in domestic prices
- Sponge iron (FeM 80%, 100% lump) export prices to Bangladesh plummeted by $30/t to $410/t CPT Benapole. About 8,000 t of deals were reported this week at a price range of $405-415/t CPT basis.
- The prices fell continuously on account of the slump in domestic offers due to the recently-imposed export duties on several steel-related commodities by the Indian government.