India: Sponge iron prices edge up in Bellary, trade volumes improve

Sponge PDRI (FeM 80%) prices in Karnataka’s Bellary rose by INR 200/t while CDRI prices increased by INR 350/t on 1 July’22.

• About 4,500 t of PDRI deals were confirmed at INR 33,800-34,000/t exw against offers at INR 34,200/t exw.
• SteelMint’s assessment for CDRI stands at INR 34,350/t exw. 2,500 t of deals were reported.
• Higher coal offers and rising billet prices pushed up sponge iron offers. Today, Hyderabad billet offers rose by INR 1,000/t.