India: Low demand weighs on sponge iron offers in Bellary, Karnataka

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary declined by INR 600/t, while C-DRI prices fell by INR 550/t on 6 Apr’22, as per SteelMint assessment.

• Around 1,950 t of PDRI deals were confirmed at INR 36,500-37,000/t exw.
• CDRI prices are at INR 37,500/t exw and 1,550 t of deals were reported today.
• Billet prices in Hyderabad decreased by INR 1,000/t d-o-d.