India: Sponge iron offers increase up to INR 1,100/t in Bellary

Sponge iron (PDRI) prices in Bellary, Karnataka rose by INR 900/t and iron ore-based DRI (CDRI) prices by INR 1,100/t.

• 8,100 t of PDRI deals were confirmed at INR 35,200-35,300/t exw.
• 3,500 t of CDRI deals were reported at INR 35,800-36,000/t ($475-478/t) exw.
• Sponge offers trend north with healthy trade volumes amid increase in coal prices.