India: Over 9,000 t of sponge iron deals concluded in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), prices inched up by INR 150/t, while iron ore-based DRI (CDRI) prices increased marginally by INR 50/t on 21 Oct’22.

• 5,800 t of PDRI deals were concluded at INR 32,000-32,200/t exw against offer at INR 32,200/t exw.
• 3,500 t of CDRI deals were confirmed between INR 33,400-33,600/t exw.
• Spot buying improved and active bookings supported offers throughout the day.