India: Sponge iron offers edge up in Bellary, Karnataka

Sponge iron PDRI (FeM 80%) prices in Bellary increased by INR 100/t while CDRI prices inched up by INR 150/t on 13 Sept.

• 3,600 t PDRI deals were concluded at INR 32,500-32,600/t exw against offer at INR 32,600/t exw.
• CDRI prices stood at INR 33,750/t exw and around 3,200 t deals were reported.
• Slight demand recovery and active buying enquiries lent support to sponge iron prices.