India: Bellary sponge iron offers stable in recent deals

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary remained flat, while C-DRI prices rose by INR 100/t in today’s trade, as per SteelMint reports.

SteelMint’s price assessment for sponge C-DRI stand at INR 30,200/t ($413). A few bids have been reported at around INR 30,200/t exw. About 500 t of C-DRI deals have been reported.

Around 1,000 t of P-DRI deals were confirmed at prevailing offers of INR 28,600/t exw. The sponge iron price scenario will depend entirely on iron ore and coal price movements, SteelMint notes.