India: Sponge iron offers decrease in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), and iron ore-based DRI (CDRI) prices in Bellary, both inched lower by INR 200/t on 26 Sept.

• 3,100 t of PDRI deals were confirmed at INR 31,200-31,400/t exw against offers at INR 31,500/t exw.
• 1,400 t of CDRI deals were reported in the range of INR 32,200-32,600/t exw.
• Trade remained moderate as sufficient bookings were already done few days back.