India: Sponge iron prices fall by INR 400-450/t in Bellary

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary dropped INR 450/t on 8 Oct’21. Sponge C-DRI prices, too, declined by INR 400/t today, as per reports.

• Around 1,000 t of P-DRI deals were confirmed at INR 34,500-34,800/t against offers at INR 35,000/t exw.
• SteelMint’s assessment for C-DRI stands at INR 35,400/t ($472) and around 500 t of deals were reported.