India: Sponge iron trade improves in Bellary; offers inch up

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Pellet-based DRI (PDRI, FeM 80%) deals of 3,050 t were concluded at INR 31,800-32,000/t exw, while offers increased by INR 100/t on 18 Oct’22.
Lumps-based DRI (CDRI) offers moved up by INR 50/t. Around 2,300 t of deals were concluded at INR 33,000-33,400/t exw.
Spot buying, which was sluggish from past few days, improved on demand recovery.

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