Sponge iron prices in Karnataka’s Bellary declined by INR 100-200/t in today’s trade. Current offers for sponge C-DRI stand at INR 29,200/t ($375), down by INR 100/t d-o-d. A few bids have been reported at around INR 28,800-29,000/t exw-Bellary and about 800 t of deals were confirmed. Again, about 2,200 t of P-DRI deals were reported at INR 28,400-28,600/t against offers at INR 28,800/t exw. Most of the deals were heard concluded for the Hyderabad and Hindupur regions. Prices inched down owing to low bids quoted by furnaces amid a fall in raw pellet prices to INR 12,500/t exw.
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