India: Sponge prices edge higher by INR 1,500-1,800/t in Bellary

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary rose sharply by INR 1,800/t on 30 Sep’21.

• Around 1,500 t of P-DRI deals were confirmed at INR 32,300/t against offers at INR 33,000/t exw.
• Inline improvement seen in C-DRI prices by INR 1,500/t in today’s trade.
• C-DRI offers are at INR 32,800/t ($442). Around 2,100 t of deals reported.