India: Sponge iron offers fall by INR 250/t in Bellary, Karnataka

  • About 1,900 t of pellet-based sponge iron (PDRI) deals were confirmed at INR 36,200-36,500/t exw against offers at INR 36,700/t exw in Bellary, Karnataka today.
  • Around 1,700 t of iron ore-based DRI (CDRI) deals were reported at INR 37,100-37,400/t exw.
  • The sponge iron price scenario will depend on iron ore and coal price movements.

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