India: Sponge iron trades improve on lower offers in Bellary

Sponge iron prices in Karnataka’s Bellary declined by INR 650/t today, while pellet-based (P-DRI) sponge iron prices dropped by INR 700/t, as per SteelMint reports

• Around 3,700 t of P-DRI deals were confirmed at INR 27,700-27,800/t against offers at INR 28,000/t exw.
• SteelMint’s price assessment for C-DRI (FeM 80%) stands at INR 28,800-29,000/t ($379-382/t). Around 1,150 t of deals were reported today.