India: Sponge iron offers rise slightly in Bellary, limited deals reported

Sponge iron, PDRI (FeM 80%) and CDRI, prices in Bellary rise by INR 200/t on 10 Mar’22.

• SteelMint’s price assessment for CDRI stands at INR 42,700/t ($560) and 1,100 t deals were reported.
• About 1,100 t of P-DRI deals were confirmed at INR 42,000-42,300/t against offers at INR 42,500/t exw.
• The sponge market stayed cautious today in the backdrop of falling billets prices.