Sponge iron prices in Karnataka’s Bellary market dropped by INR 150-250/t today. SteelMint’s assessment for sponge C-DRI stands at INR 30,400/t ($413), down INR 150/t, d-o-d. About 600 t of deals were confirmed at INR 30,400-30,500/t against a few bids at INR 30,300/t exw. Furthermore, around 1,100 t of P-DRI deals were confirmed at INR 29,600-29,700/t versus offers at INR 29,800/t exw.
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