India: Over 6,000 t sponge iron deals concluded in Bellary, Karnataka

Pellet-based sponge iron (PDRI, FeM 80%) and iron ore-based DRI (CDRI) prices in Bellary increased marginally by INR 100/t on 14 Sept.

• 4,000 t PDRI deals were confirmed at INR 32,600-32,700/t exw against offer at INR 32,800/t exw.
• CDRI prices stood at INR 33,850/t exw and around 2,300 t deals were concluded.
• Rising billet prices in northern and central regions lifted sponge iron offers.