India: Bellary sponge iron offers fall, few deals reported

Sponge iron prices in Bellary fell by INR 400/t in today’s trade. SteelMint’s assessment for sponge C-DRI stands at INR 32,900/t ($443), down INR 400/t, d-o-d. A few bids were reported at INR 32,500/t exw. Around 900 t of deals were reported at INR 32,800-33,000/t exw. About 500 t of P-DRI deals were confirmed at INR 31,700-31,800/t against offers at INR 32,000/t exw.