India: Sponge iron offers rise by up to INR 500/t in Bellary

Sponge iron, C-DRI (FeM 80%), prices in Karnataka’s Bellary rose by INR 500/t on 23 Dec’21, while P-DRI prices increased by INR 450/t, as per SteelMint assessment.

• Around 4,550 t of P-DRI deals were confirmed at INR 28,000-28,500/t against offers at INR 28,500/t exw.
• SteelMint’s assessment for C-DRI stands at INR 29,500/t ($393/t) and around 2,400 t of deals were reported today.