India: Sponge iron offers fall further in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%) prices in Karnataka’s Bellary slip by INR 400/tonne (t) and around 900 t of deals were confirmed at INR 36,900-37,000/t exw on 30 Mar’22.

• SteelMint’s assessment for CDRI stands at INR 37,700/t (-300/t) exw and around 850 t of deals were reported.
• The decline in raw pellets and coal prices has put pressure on sponge offers.