India: Sponge iron demand slows down in Bellary at prevailing offers

Sponge iron PDRI (FeM 80%) and CDRI prices inched up by INR 50/t in Karnataka’s Bellary on 1 Sept.

• PDRI deals of 2,600 t were confirmed at INR 32,800-33,100/t exw against offer at INR 33,200/t exw.
• SteelMint’s assessment for CDRI stands at INR 34,150/t exw and around 1,500 t of deals were reported.
• Buyers placed healthy bookings in past few days and now buying interest has slowed down, SteelMint learnt.