India: Sponge iron demand remains subdued in Bellary, Karnataka

Sponge iron PDRI (FeM 80%) and iron ore-based DRI (CDRI) prices in Bellary fell by INR 150/t on 9 Sept.

• PDRI deals of 600 t were confirmed at INR 32,500/t exw against offers at INR 32,600/t exw.
• CDRI prices stood at INR 33,500/t exw and around 800 t deals were concluded.
• Lower enquires and slow demand amid festive holiday pulled down offers.