India: Sponge iron offers rise in Bellary despite moderate demand

—

Sponge iron (FeM 80%) prices in Karnataka’s Bellary rose by INR 150-200/t on 13 June’22.
About 1,200 t of PDRI deals were confirmed at INR 32,200-32,300/t exw. SteelMint’s assessment for CDRI stood at INR 32,900/t exw and around 1,500 t of deals were reported.
Rising billet prices have strengthened sponge iron offers. Demand, however, continued to remain moderate. Hyderabad billet offers increased by INR 1,000/t, d-o-d.

Comments