India: Bellary sponge iron offers stable despite lower bids

Sponge iron prices in Karnataka’s Bellary remained unchanged on 18 Oct’21.

• Sponge C-DRI stands at INR 37,300/t ($495/t) exw-Bellary and about 1,000 t of deals were confirmed. Also, about 1,000 t of P-DRI deals were confirmed at INR 37,000/t against offers at INR 37,100-37,200/t, while bids with major plants are assessed at INR 36,600-700/t exw.
• Producers have kept prices stable amidst sufficient orders.