India: Sponge iron prices rise in Bellary as trades improve

Pellets-based sponge DRI prices in Bellary rose by INR 750/t, while iron ore-based DRI (C-DRI) prices increased by INR 800/t.

• 6,200 t of PDRI deals were confirmed at 34,300-34,500/t.
• 4,900 t of CDRI deals were reported at INR 34,500-34,800/t ($456-460/t) exw.
• Prices remain strong on active demand and rising coal prices. Coal prices increased by INR 500/t d-o-d at Gangavaram Port.