India: Sponge iron buying continues in Bellary even as offers decline

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Sponge iron, PDRI (FeM 80%), prices inched down by INR 250/t in Bellary, Karnataka while CDRI prices slipped marginally by INR 50/t on 8 Nov’22.
5,900 t of PDRI deals were concluded at INR 30,200-30,300/t exw against offer at INR 30,500/t exw.
2,700 t of CDRI deals were confirmed between INR 31,800-32,000/t exw.
The decline in offers had a very little impact on sponge iron buying.

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