South India: Sponge iron prices decrease upto INR 450/t in Bellary

Pellet-based sponge iron, P-DRI (FeM 80%) prices in Karnataka’s Bellary fell by INR 200/t, while C-DRI prices declined by INR 450/t on 16 Dec’21.

• Around 1,700 t of P-DRI deals were confirmed at INR 28,700-29,000/t and 1,100 t C-DRI deals at INR 29,500-29,600/t exw.
• Sponge iron prices will depend on iron ore and coal price movements.