India: Sponge iron offers stable d-o-d in Bellary, Karnataka

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Sponge iron (FeM 80%) PDRI offers stayed stable on 14 Oct’22. Deals of 2,400 t were confirmed between INR 31,900-32,000/t exw.
Lump-based DRI (CDRI) prices stand at INR 33,550/t exw and around 1,700 t of deals were concluded at INR 33,450-33,600/t exw.
Sponge iron demand was subdued today amid transportation issues as roads are waterlogged due to heavy rains, sources reported.

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