India: Sponge iron offers remain stable in Bellary

Sponge iron prices in Karnataka’s Bellary remain unchanged on 10 Dec’21.

• SteelMint’s assessment for C-DRI stands at INR 29,200/t ($386/t). 1,500 t of deals were reported by local manufacturers.
• About 3,050 t of P-DRI deals were confirmed at INR 27,700-27,800/t against offers at INR 28,000/t exw for the Hindupur region. Mill owners continue to keep prices firm with sufficient orders in hand amidst disruptions in the supply chain.