India: Sponge iron offers fall up to INR 500/t in Bellary, Karnataka

Sponge iron PDRI (FeM 80%) as well as CDRI prices in Bellary, Karnataka, declined by INR 500/t on 25 Apr’22.

• 1,000 t of PDRI deals were confirmed at INR 36,200-36,300/t exw against offers at INR 36,500/t exw.
• SteelMint’s assessment for CDRI stands at INR 37,300/t exw and 800 t of deals were reported.
• Billet prices in Hyderabad fell by INR 1,000/t d-o-d amid sluggish demand for sponge iron today.