India: Sponge iron trade falls on rising offers in Bellary, Karnataka

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Sponge iron PDRI (FeM 80%) prices in Bellary rose by INR 200/t and about 2,400 t of deals were confirmed at INR 32,200-32,400/t exw on 10 Oct’22.
Iron ore lump-based DRI (CDRI) prices increased by INR 250/t and deals of around 3,450 t were concluded at INR 33,800-34,000/t exw.
Buying interest slowed down on rising sponge iron offers, sources informed SteelMint.

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