India: Limited buying weighs on sponge iron offers in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), prices in Bellary went down marginally by INR 100/t while CDRI prices were down by INR 50/t on 6 Sep’22.

• PDRI deals of 1,100 t were confirmed at INR 32,800-32,900/t against offers at INR 33,000/t exw.
• CDRI deals of 1,300 t were concluded at INR 33,900-34,000/t exw.
• Offers in key markets dropped due to limited trade as buyers resisted higher offers.