Sponge iron prices in Karnataka’s Bellary market declined by INR 100-250/t today. However, trade volumes improved sharply. SteelMint’s assessment for sponge C-DRI stands at INR 30,800/t ($418) exw-Bellary, down INR 100/t, d-o-d. About 600 t of deals were reported at INR 30,600-30,700/t exw. Meanwhile, demand for sponge P-DRI improved with nearly 3,700 t of deals being confirmed at INR 30,000-30,100/t against offers at INR 30,300-30,400/t exw.
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