India: Sponge iron prices remain stable in Bellary, Karnataka

Pellet-based sponge iron (PDRI) prices stayed stable in Karnataka’s Bellary while iron ore-based DRI (CDRI) prices increased marginally by INR 100/t on 29 June.

• About 1,300 t of PDRI deals were confirmed at INR 33,700-33,800/t exw against offers at INR 34,000/t exw.
• About 1,100 t of CDRI deals were reported at INR 34,000-34,100/t exw.
• Sponge iron trades remained limited today as buyers are expecting a correction, SteelMint understands.