India: Limited demand weighs on sponge iron prices in Bellary, Karnataka

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Sponge iron PDRI (FeM 80%) offers fell by INR 500/t and 1,100 t of deals were concluded at INR 30,000-30,200/t exw on 13 Dec’22.
Iron ore lump-based DRI (CDRI) prices decreased by INR 500/t and around 1,300 t of deals were confirmed at INR 30,800-31,200/t exw.
Spot buying in sponge iron remained slow today, resulting in a decline in offers.

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