Pellet-based sponge iron (FeM 80%) prices in Bellary fell by INR 450/t, while iron ore-based CDRI prices fell by INR 500/t.
- 1,100 t of PDRI deals were confirmed at INR 35,300-35,800/t exw, while CDRI stood at INR 36,500/t exw, with 1,100 t of deals being recorded.
- Measured production by furnaces due to power shortage in Andhra Pradesh and prevailing sluggish market trends were the key factors behind the drop in sponge iron prices.
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