India: Over 8,000 ton sponge iron trades reported in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%) and CDRI, prices inched up in Bellary by INR 50/t on 8 Jun’22.

• 5,000 t of PDRI deals were confirmed at INR 32,100-32,200/t exw against offers at INR 32,200/t exw.
• SteelMint’s assessment for CDRI stands at INR 32,650/t exw and around 3,400 t of deals were reported.
• Trades improved with increase in offers and hence buyers started taking positions.