India: Sponge iron prices fall by INR 100-200/t in Bellary

Sponge C-DRI (FeM 80%) prices in Karnataka’s Bellary declined by INR 200/t on 28 Oct’21. P-DRI prices, too, dropped by INR 100/t today.

• SteelMint assesses C-DRI at INR 34,200/t ($457) and around 500 t of deals were reported.
• Around 1,000 t of P-DRI deals were confirmed at INR 33,700/t against offers at INR 34,000/t exw.