India: Sponge iron offers remain stable in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), and iron ore-based DRI (CDRI) prices remained unchanged in Karnataka’s Bellary on 9 Jun’22.

• 2,700 t of PDRI deals were confirmed at INR 32,000-32,200/t exw against offers at INR 32,200/t exw.
• CDRI assessment stands at INR 32,650/t exw and 1,100 t of deals were reported.
• Limited deals were heard today as buyers had placed sufficient booking orders yesterday.