India: Sponge iron offers fall slightly in Bellary, Karnataka

Sponge iron PDRI and CDRI prices in Karnataka’s Bellary fell by INR 100/t on 2 May’22.

• 3,000 t deals were reported at INR 36,800-37,000/t exw against offers at INR 37,200/t exw.
• Around 2,000 t of CDRI deals were confirmed at INR 37,800-38,000/t exw.
• Buyers resisted buying sponge iron at higher offers amid the Eid holidays which resulted in a slight decline in prices today.