India: Over 10,000 t sponge iron deals concluded in Bellary

Pellet-based sponge iron (FeM 80%) prices in Karnataka’s Bellary inched up by INR 100/t on 29 July.

• PDRI deals of 6,600 t were concluded at the price range of INR 34,000-34,300/t exw against offer at INR 34,500/t exw.
• CDRI prices, with an increase of INR 350/t, stand at INR 35,350/t exw. Around 3,750 t deals were reported.
• Healthy demand of sponge lead to increase in offers, followed by surge in Hyderabad billet prices by INR 1,000/t today.