India: Sponge iron prices decline further in Bellary

Sponge iron, PDRI, prices in Bellary dipped by INR 250/t today while prices of iron ore-based material, CDRI (FeM 80%) inched down by INR 100/t.

• Around 3,500 t of pellet-based sponge iron (PDRI) deals were confirmed at INR 32,800-33,000/t against offers at INR 33,200/t exw in Bellary, Karnataka today.
• About 3,950 t of iron ore-based DRI (CDRI) deals were reported at INR 33,200-33,500/t ($441-445/t) exw.