India: Sponge iron offers rise slightly in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), prices in Karnataka’s Bellary rose by INR 350/t while iron ore-based DRI (CDRI) prices increased by INR 200/t on 24 June.

• PDRI deals of 2,300 t were confirmed at INR 33,300-33,400/t exw against offers at INR 33,500/t exw.
• Around 3,100 t CDRI deals were reported at INR 33,400-33,500/t exw.
• A slight increase in portside coal offers and semi finished prices pushed up sponge offers today.