India: Sponge iron prices inch down in Bellary, Karnataka

Sponge iron PDRI (FeM 80%) prices in Karnataka’s Bellary inched down by INR 200/t d-o-d while iron ore-based DRI (CDRI) prices declined by INR 50/t today.

• 3,300 t of PDRI deals were confirmed at INR 34,300-34,500/t exw.
• SteelMint’s assessment for CDRI stands at INR 35,500/t exw and around 900 t deals were reported.
• Trade activities remained moderate throughout the day.