India: Sponge iron demand improves in Bellary at lower offers

Sponge iron PDRI (FeM 80%) prices fell by INR 450/t d-o-d whereas CDRI prices dipped INR 350/t on 21 Sept.

  • About 4,200 t PDRI deals were confirmed at INR 31,500-31,600/t exw against offer at INR 31,800/t exw.
  • CDRI prices stand at INR 32,600/t exw and around 5,000 t deals were concluded.
  • Buying interest recovered and healthy deals were placed as offers decreased.

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