India: Bellary sponge iron offers drop on low buying interest

Sponge iron prices in Karnataka’s Bellary declined by INR 500/t today due to lack of buying interest, as per SteelMint reports.

• SteelMint’s assessment for sponge C-DRI stands at INR 36,500/t ($488/t), down INR 500/t d-o-d.
• Meanwhile, about 1,000 t of P-DRI deals were confirmed at INR 36,000/t. A few bids have been reported at around INR 35,600-35,800/t exw-Bellary.