India: Bellary sponge iron offers fall upto INR 300/t

Sponge PDRI prices in Bellary dropped by INR 200/t, while CDRI prices also declined by INR 300/t on 18 Feb’22.

• About 2,200 t of PDRI deals were confirmed at INR 33,400-33,600/t against offers at INR 33,800/t exw.
• About 1,800 t of CDRI deals were reported at INR 33,700-33,900/t ($450-454/t) exw.
• Spot trades dropped today as buyers had already placed sufficient number of bookings in the last two days.