India: Sponge iron offers remain range bound in Bellary, Karnataka

Iron ore-based sponge iron (CDRI, FeM 80%) prices in Karnataka’s Bellary decreased slightly by INR 50/t while prices of PDRI sponge iron continued to stay flat today, as per SteelMint reports.

• Around 2,400 t PDRI deals were confirmed at INR 33,900-34,100/t exw.
• C-DRI prices stand at INR 34,400/t exw and around 1,500 t deals were reported on exw basis.
• Prices stayed firm amidst subdued demand and strengthening coal and billet prices.