India: Sponge iron prices rise in Bellary as trades improve

Pellet-based sponge iron, P-DRI, prices in Karnataka’s Bellary rose by INR 100/t on 17 Jan’22, while prices of iron ore-based material, C-DRI (FeM 80%), increased by INR 50/t.

• Around 8,900 t of P-DRI deals were confirmed at INR 31,500-31,800/t against offers at INR 31,800/t exw.
• SteelMint’s price assessment for C-DRI is at INR 32,550/t ($438/t). 2,875 t of deals were reported today.