India: Sponge iron offers in Bellary rise by INR 500/t

Sponge iron, C-DRI (FeM 80%), prices in Karnataka’s Bellary rose by INR 500/t on 31 Dec’21. P-DRI prices, too, increased by INR 350/t.

• Around 4,700 t of P-DRI deals were confirmed at INR 30,000-30,200/t against offers at INR 30,300/t exw.
• SteelMint’s assessment for C-DRI stands at INR 31,000/t ($418/t). Around 5,300 t of deals were reported.