India: Sponge iron offers remain strong on active buying in Bellary

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Sponge iron PDRI (FeM 80%) offers surged up to INR 350/t and 4,900 t of deals were concluded between INR 29,800-30,000/t exw on 26 Dec’22.
Iron ore lump-based DRI (CDRI) prices increased by INR 400/t & around 1,800 t of deals were confirmed between INR 30,900-31,000/t exw.
Active bookings in sponge iron have supported offers to remain strong throughout the day.

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