India: Sponge iron trades improve on lower offers in Bellary, Karnataka

Pellet-based sponge PDRI (FeM 80%) as well as iron ore-based DRI (CDRI) prices fell by INR 400/t as on 5 May’22.

• • About 2,900 t of PDRI deals were confirmed at INR 36,000/t exw against offers at INR 36,500/t exw.
  • SteelMint’s assessment for CDRI stands at INR 37,000/t exw and 2,300 t of deals were reported.