India: Sponge iron offers rise on active demand in Bellary, Karnataka

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Sponge iron, PDRI (FeM 80%), prices in Karnataka’s Bellary increased by INR 300/t. Around 1,900 t deals were reported at INR 36,100-36,300/t exw.
SteelMint’s assessment for CDRI stands at INR 37,200/t ($485/t) with 600 t of deals being confirmed.
Plants raised offers on account of active demand following strengthening coal and billets prices.

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