India: Sponge iron offers increase by INR 300/t in Bellary

Sponge iron, C-DRI (FeM 80%), prices in Karnataka’s Bellary rose by INR 300/t on 10 Jan’22, while P-DRI prices increased by INR 50/t.

• Around 2,900 t of P-DRI deals were confirmed at INR 30,300-30,500/t against offers at INR 30,500/t exw.
• SteelMint’s assessment for C-DRI is at INR 31,500/t ($425/t) and around 600 t of deals were reported today.