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

Sponge iron, PDRI (FeM 80%) and iron ore-based DRI (CDRI), prices in Karnataka’s Bellary fell by INR 100/t on 14 Jun’22.

• 2,300 t of PDRI deals were confirmed at INR 32,200/t exw as against offers at INR 32,500/t exw.
• Around 2,900 t of CDRI deals were reported at INR 32,700-32,900/t exw.
• Trades improved today as offers were on a lower range and thus market participants started taking positions, SteelMint notes.