Sponge iron, PDRI (FeM 80%), prices in Karnataka’s Bellary decreased by INR 300/t, while iron ore-based DRI (CDRI) prices fell by INR 250/t on 29 Aug.
- PDRI deals of 1,400 t were concluded between INR 33,300-33,500/t exw against offer at INR 33,500/t exw.
- CDRI prices stand at INR 34,450/t exw and around 500 t deals were reported.
- Sponge iron demand remained subdued with lower enquiries as buyers expect further price corrections in the near term, SteelMint notes.
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