Indian Sponge Iron Export Offers Fall Further by USD 10/MT

Sponge iron export offers from eastern India to Bangladesh have again dropped by USD 10/MT following decline in domestic prices by INR 500-1,000/MT (USD 7-14) in a week's time.

During last week the sponge export offers to Bangladesh evaluated at around USD 340/MT, is now hovering at USD 330/MT CNF Chittagong.

The export prices fell by USD 10/MT as against last week closing and total of USD 25-30/MT if compared with short term peak on 10th Feb'19 at around USD 355-360/MT CNF Chittagong.

As per exporters, buying interest is expected to improve as current offers are too competitive if we compare with imported scrap prices to Bangladesh which is hovering at USD 345/MT CNF Chittagong for shredded grade. Offers have come down by USD 10-15/MT W-o-W.

They also stated that "scope is limited for further downtrend in sponge prices as standalone Indian producers are running under pressure of high input cost too. However if raw material prices correct, the producers may be reluctant to cut offers" they added.


India's sponge iron exports to Bangladesh more or less firm M-o-M in Jan'19, according to provisional data available with SteelMint. India has exported about 44,743 MT sponge iron to Bangladesh during Jan'19 which is similar as against 44,878 MT in Dec'18.

However in comparison with overall sponge exports, it fall by around 8,500 MT (12%) in Jan'19 to 60,545 MT in comparison with 68,988 MT in Dec’18.

The exports have been slump in line with limited sourcing by Nepal's mills as the exports to Nepal plunged by 43% M-o-M in Jan'19 and registered at 7,975 MT as compared to 13,858 MT in Dec'18.

News No: 4018
Date: 2019/03/14 - 15:14
News Source: SteelMint

Indian  Sponge Iron  Export  Bangladesh  CNF Chittagong 


Leave a Comment:


Official: Afghanistan Continues Oil Imports from Iran

A spokesman of the Afghan ministry of oil and gas rejected media reports claiming that the country has stopped crude imports from Iran.

Indian Sponge Iron Prices to Likely to Remain Strong - Manufacturers

Sponge iron market seems to remain strong, as per manufacturers in central & eastern India. Rising raw material prices & active demand are likely to keep Indian sponge iron prices supported, they added.

Daily Update: Indian Semis Offers Rise Further

Indian steel prices remain slightly surge by INR 100-400/MT on improved inquiries from the domestic buyers. The mid sized mills have raised Billet prices by INR 100-400/MT, Rebar by INR 100-300/MT & Sponge iron by INR 100-200/MT day on day in major markets.

China’s Graphite Electrodes Industry Performance in Q1 2019

It seems that the Graphite electrodes shortage that has cropped up in China in the latter of 2017 amid closure of polluting GE units seems to settle out as considerable surge have been recorded in country’s electrodes production as well as exports for the first quarter of 2019.

Daily Update: Indian Semis Offers Rise

Indian spot steel prices sharply surge by INR 300-600/MT in a day on improved demand in finished steel products amid positive outlook. The sources have reported better response from the stockiest & end user segment.

Vedanta wins bids to explore and mine two Indian copper blocks

Oil-to-metals conglomerate Vedanta Ltd said on Tuesday it had been declared the preferred bidder for two copper blocks in the India's western state of Maharashtra.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners