India: Sponge iron prices rise marginally in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), prices in Bellary rose by INR 350/t today. Around 2,800 t deals were confirmed at INR 36,300-36,500/t exw.

SteelMint’s assessment of CDRI stands at INR 37,400/t exw (+400/t) with 800 t deals reported.

Prices rebounded on the back of higher coal prices and hike in billets prices amid subdued demand, SteelMint notes.