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

Sponge PDRI (FeM 80%) and CDRI prices in Karnataka’s Bellary moved up marginally by INR 150/t and INR 50/t respectively on 16 Aug.

• About 5,450 t of PDRI deals were confirmed at INR 34,900-35,400/t exw, against offers at INR 35,500/t exw.
• SteelMint’s assessment for CDRI stands at INR 36,200/t exw and around 4,900 t of deals were reported.
• Strong demand for sponge iron and the rise in Hyderabad billet offers by INR 1,000/t d-o-d have pushed up offers.