India: Sponge iron offers inch up in Bellary amid active demand

Pellet-based DRI (PDRI) prices in Karnataka’s Bellary moved up by INR 200/t while lumps-based DRI (CDRI) prices increased by INR 250/t on 2 August.

• 6,300 t PDRI deals were concluded at a price range of INR 34,300-34,500/t exw against offer at INR 34,500/t exw.
• CDRI prices stood at INR 35,600/t exw and around 3,900 t deals were heard.
• Strong demand from furnaces supported sponge iron prices. Hyderabad billet offers increased by INR 500/t d-o-d.