South India based sponge iron producer increases offer by INR 800/t ($11)

Bellary, Karnataka based BMM has raised its sponge P-DRI offer by INR 800/t. Current offer stands at INR 25,400/t exw. The prices have increased due to renewed buying following improvement in billet prices amid active demand. BMM Ispat has a sponge iron production capacity of 2,300 t per day (equivalent to 0.7 mn t pa). They supply material majorly in the surrounding markets like Hyderabad etc apart from western India.