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Friday, July 27, 2018 - 8:59:21 PM
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Mining News Pro - As per trade participants, recent small deals for sponge iron exports concluded to a Bangladesh based big mill with reduce prices by USD 5/MT.
The fresh deal price for exports reported at close to USD 325/MT CPT Benapole (dry port of India & Bangladesh), which is equivalent to USD 345-350/MT, CFR Chhittagong, Bangladesh. In the last week, offers were reported at USD 330/MT CPT Benapole & USD 350-355/MT, CFR Chhittagong, Bangladesh.
The current price reduction for exports attributes lessen inquiries from Bangladesh due to weak demand for finished products because of monsoon season. This has narrowed down spot steel trades.
Another key factor behind slump in prices noted, constant fall in imported & domestic scrap prices in Bangladesh. As per SteelMint assessment, during July imported scrap offers to Bangladesh declined by USD 15-20/MT due to global slow down.
The current offers for containerised imported scrap to Bangladesh assessed at USD 375-380/MT Shredded 211 scrap from UK, USD 340/MT HMS 1&2 (80:20) from Europe, CFR Chittagong.
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