India: Sponge iron offers increase marginally in Bellary, Karnataka

Sponge iron PDRI (FeM 80%) prices in Karnataka’s Bellary moved up slightly by INR 100/t, while iron ore-based DRI (CDRI) prices remained stable at INR 35,950/t exw on 4 Aug’22.

• PDRI deals of 1,100 t were confirmed at INR 34,900-35,000/t exw against offer at INR 35,000/t exw.
• SteelMint’s assessment for CDRI stands at INR 35,950/t exw and around 1,250 t deals were reported.
• Limited deals were recorded today as buyers had booked healthy volumes in the past few days.