India: Sponge iron prices rise further in Bellary as trade volumes improve

Pellet-based sponge iron, P-DRI, prices in Karnataka’s Bellary rose further by INR 300/t on 20 Jan’22, while prices of iron ore-based material, C-DRI (FeM 80%), increased by INR 200/t.

• Around 6,550 t of P-DRI deals were confirmed at INR 31,850-32,200/t against offers at INR 32,300/t exw.
• SteelMint’s assessment for C-DRI is at INR 32,800/t ($440/t) and 2,200 t of deals were reported today.