India: Sponge iron offers rise further in Bellary, Karnataka

Sponge iron (FeM 80%) prices in Karnataka’s Bellary rose by INR 300/t on 12 July.

• 4,100 t deals of pellet-based DRI (P-DRI) were confirmed at INR 35,000-35,200/t exw.
• SteelMint’s assessment for lump-based DRI (CDRI) stands at INR 35,550/t exw with 3,700 t deals reported.
• Active demand, rising pellet and billet offers continue to support sponge iron prices, SteelMint notes.