Sponge iron prices in Karnataka’s Bellary declined by INR 150-500/t today. Current offers for sponge C-DRI are at INR 30,500/t ($410), down by INR 150/t d-o-d. A few bids were reported at INR 30,300/t exw-Bellary. About 800 t of deals were reported.
Around 5,700 t of P-DRI deals were confirmed at INR 28,800-29,200/t against offers at INR 29,300-29,400/t exw. Most of the deals were concluded for Hyderabad and Hindupur. Prices continued to drift downwards owing to low bids quoted by furnaces amid raw pellet prices falling to INR 12,800/t exw.
Leave a Reply