India: Sponge iron offers fall slightly in Bellary, Karnataka

  • Sponge iron, PDRI (FeM 80%), prices in Bellary fell by INR 300/t, with 500 t of deals being reported at INR 36,200-36,300/t as against offers at INR 36,500/t exw on 8 Apr’22.
  • 1,820 t of deals were confirmed for iron ore lump-based DRI (CDRI) at around INR 37,000-37,300/t exw.
  • Slow demand and limited finished steel movement led to further decline in offers.

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