Sponge iron prices in Karnataka’s Bellary moved up by INR 200/t today; however, trade volumes dropped sharply due to a constant surge in prices as buyers preferred to wait.
Current offers for sponge C-DRI stand at INR 30,200/t ($403). A few bids have been reported at around INR 30,000/t exw-Bellary and around 700 t deals were reported by manufacturers.
Meanwhile, about 1,000 t of P-DRI deals were confirmed at INR 29,200-29,300/t against offers at INR 29,500-29,600/t exw. Most of the deals concluded were for Goa and Hindupur.
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