Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary increased by INR 200/t on 19 Jul’21. Sponge C-DRI prices, too, rose by INR 250/t in today’s trade, as per reports.
- About 1,600 t of P-DRI deals were confirmed at INR 28,600-28,800/t, while offers hovered at INR 28,800-29,000/t exw.
- Offers for sponge C-DRI stood at INR 29,600-700/t ($393) as against bids at INR 29,500/t exw-Bellary. Around 1,200 t of deals were reported by manufacturers.
- Sources are expecting sponge iron prices to remain strong due to seasonal reduction in output along with rising coal prices.
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