India: Sponge iron prices rise by INR 200/t in Bellary

Sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary rose by INR 200/t, while C-DRI prices rose by INR 100/t on 12 Jan’22.

• SteelMint’s assessment for C-DRI stands at INR 31,900/t ($432/t). Around 2,100 t of deals were reported. Most deals were concluded for Mandi Gobindgarh, freight via road at INR 4,200-4,300/t.
• Around 3,100 t of P-DRI deals were confirmed at INR 30,800-31,000/t against offers at INR 31,000/t exw.