Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary curved up by INR 300/t on 11 Aug’21. Inline improvement in sponge C-DRI prices was INR 200/t. Current offers for sponge C-DRI stand at INR 30,700/t ($413). A few bids have been reported at around INR 30,500-30,700/t exw-Bellary, of which about 1,000 t of deals had been confirmed. Meanwhile, around 2,400 t of P-DRI deals were reported at INR 29,000-29,200/t against offers at INR 29,300-29,500/t exw. Most of the deals were concluded for the Hyderabad and Hindupur regions. Mill owners increased prices with few order bookings in hand for the next couple of weeks.
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