India: Sponge iron offers decrease marginally in Bellary, Karnataka

Sponge iron PDRI (FeM 80%) and iron ore-based DRI (CDRI) prices in Karnataka’s Bellary inched down by INR 50/t on 26 Aug.

• PDRI deals of 1,700 t were confirmed at INR 33,700-33,800/t exw against offers at INR 33,800/t exw.
• About 2,400 t of CDRI deals were reported in the range of INR 34,500-34,950/t exw today.
• Sponge iron buying activity remained slow today as buyers had already placed sufficient amount of bookings in last few days.