India: Sponge iron offers fall further in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%) as well as CDRI prices in Bellary fell by INR 300/t on 24 Mar’22.

• • 1,130 t of PDRI deals were confirmed at INR 38,000/t exw, with offers at INR 38,500/t exw.
  • SteelMint’s assessment for C-DRI is at INR 39,000/t ($511/t) exw and deals for around 2,050 t were reported today.
  • Prices continue to drift downwards owing to low bids quoted by the furnace operators.