Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary market stayed unchanged d-o-d on 2 Jul’21, while a slight improvement was seen in sponge C-DRI prices that moved up by INR 50/t in today’s trade. A few bids were reported for C-DRI at INR 27,700/t as against offers of INR 27,900/t ($375). However, about 600 t of deals were confirmed at INR 27,800/t exw. Also, SteelMint confirmed around 2,400 t of P-DRI deals at INR 27,100-27,200/t against offers at INR 27,400/t, exw. A majority of these deals were reported for the Hyderabad market. Trade activities remained subdued and buyers are waiting for a clearer market direction, SteelMint notes.
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