India: Sponge iron offers edge down slightly in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%) and iron ore-based DRI (CDRI) prices decreased by INR 100/t in Bellary on 12 Oct’22.

• PDRI deals of 3,400 t were concluded at INR 32,000-32,100/t exw against offer at INR 32,100/t exw.
• About 1,300 CDRI deals were confirmed between INR 33,600-33,700/t exw.
• Buying in sponge remain moderate today as buyers booked sufficient material in last few days.