Indian Sponge Iron Export Offers Surge on Domestic Gains
Following surge in Indian domestic sponge prices, the export offers to Bangladesh increased sharply by USD 15/MT W-o-W. In line with Indian domestic sponge iron price hike, it marked uptick by INR 1,500/MT (USD 22) W-o-W in eastern region.
As per major exporters in eastern India (Odisha & Jharkhand), recent few deals concluded at around USD 335/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 355/MT CFR Chittagong (Bangladesh) as against last week at close to USD 320/MT CPT & USD 340/MT CFR Chittagong.
As per them, amid surge in scrap prices globally, the sponge iron demand is active even though there is significant jump in export offers since a week. Further they are assuming demand to remain supported as positive momentum continued in international market.
Bangladesh is the largest sponge iron importer from India with a contribution of about 50-55%. India’s sponge iron export in Jan-Nov’18 recorded at 1,961,487 MT in which exports to Bangladesh is about 1,081,256 MT (55.1%), as per custom data maintained by SteelMint.
source: SteelMint
Top News
El Salvador sitting on $3 trillion worth of unmined gold, president says
Gold price could extend record run into 2025, Heraeus says
Trump tariff risk roils gold and silver as New York prices jump
Rio Tinto’s $2.5 billion lithium plan is a win for Milei
Copper price jumps on China policy, but we’ve been here before
Zimbabwe wants 26% free-carry stake in new mining projects
Glencore ties up with Cyclic Materials in copper recycling push
Lithium supply surplus set to stay with battery makers’ help
China tightens rules to curb methane emissions from coal mines
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
Australia’s CEFC invests $75m in homegrown critical minerals
Forensic technology aids Brazil’s crackdown on illicit Amazon gold trade
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
BHP seeks Brazil growth to emerge from shadow of mining disaster
Norilsk Nickel plans to sell all it produces in 2025
Gold price could extend record run into 2025, Heraeus says
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
US foreign investment panel split on Nippon-US Steel deal
Norge Mining acquires Europe’s largest natural graphite producer
Forensic technology aids Brazil’s crackdown on illicit Amazon gold trade
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
