India: Sponge iron offers fall marginally on moderate demand in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), prices in Karnataka’s Bellary declined by INR 50/t and around 1,000 t deals were confirmed at INR 35,800-36,000/t exw.

• SteelMint’s assessment for CDRI stands at INR 36,900/t ($481/t), with 500 t of deals being reported.
• Overall trade activities remained moderate as the market fluctuated widely which affected buying confidence.