India: Over 7,000 t sponge iron deals reported from Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), and iron ore-based DRI (CDRI) prices in Karnataka’s Bellary surged by INR 100/t on 16 June’22.

• 4,400 t of PDRI deals were confirmed at INR 32,000-32,300/t exw against offers at INR 32,500/t exw.
• CDRI prices stand at INR 32,750/t exw with around 2,900 t of deals.
• Billet prices in Hyderabad increased by INR 500/t d-o-d.