India: Sponge iron prices fall further in Bellary

Sponge P-DRI (FeM 80%) prices in Bellary fell by INR 250/t on 7 Oct’21. Sponge C-DRI prices, too, declined by INR 200/t today.

• Around 1,400 t of P-DRI deals were confirmed at INR 35,000-35,300/t as against offers at INR 35,400-35,500/t exw.
• SteelMint’s assessment for C-DRI stands at INR 35,800/t ($479) and around 500 t of deals were reported.