Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary edged up by INR 100/t on 16 Aug’21. The inline improvement in sponge C-DRI prices was INR 50/t in today’s trade.
Current offers for sponge C-DRI stand at INR 31,300-31,400/t ($421-423). About 1,400 t of deals have been reported at around INR 31,200-31,300/t, exw-Bellary.
On the other hand, P-DRI demand remains active as nearly 4,200 t of deals were confirmed at INR 29,700-29,800/t against offers at INR 29,900-30,000/t exw. Most of the deals concluded were for Hyderabad and the Wada region in Maharashtra. A few sources claimed that deals had happened for locations in north India too; however, these remained unconfirmed till the time of publication of this assessment.
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