India: Sponge iron prices rise upto INR 600/t in Bellary

Sponge iron, PDRI (FeM 80%), prices in Bellary rose by INR 550/t, while iron ore-based DRI (CDRI) prices moved up by INR 600/t on 15 Apr’22.

• Around 5,000 t of P-DRI deals were confirmed at INR 36,800-37,000/t against offers at INR 37,200/t exw.
• SteelMint’s price assessment for C-DRI stands at INR 38,000/t exw ($498/t), with 1,700 t deals reported.
• Billets prices in Hyderabad increased by INR 2,000/t d-o-d.