India: Sponge iron prices rise by INR 100/t in Bellary

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary declined by INR 100/t on 2 Sept’21. However, sponge C-DRI prices continued to stay flat in today’s trade, as per SteelMint reports.

• Around 2,500 t of P-DRI deals were confirmed at INR 28,500-28,600/t against offers at INR 28,700-28,800/t exw.
• The supply of material was majorly for the Hindupur and Hyderabad markets, including western India.
• Offers for C-DRI stand at INR 30,100/t ($412). Around 1,400 t of deals were reported at INR 30,000-30,100/t exw.