Author: Sagar
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India: Sponge iron offers fall marginally on moderate demand in Bellary, Karnataka
Sponge iron, PDRI (FeM 80%), prices in Karnataka’s Bellary declined by INR 50/t and around 1,000 t deals were confirmed at INR 35,800-36,000/t exw. SteelMint’s assessment for CDRI stands at INR 36,900/t ($481/t), with 500 t of deals being reported. Overall trade activities remained moderate as the market fluctuated widely which affected buying confidence.