India: Sponge iron offers rise up to INR 1,250/t in Bellary, Karnataka

Sponge PDRI (FeM 80%) prices in Karnataka’s Bellary rose by INR 1,000/t, while CDRI prices increased by INR 1,250/t on 21 Mar’22.

• 2,000 t of PDRI deals were confirmed at INR 39,000-39,200/t as against offers at INR 39,300/t exw.
• SteelMint’s assessment for CDRI stands at INR 40,000/t ($525/t) and around 5,600 t of deals were reported.
• Active bookings and availability of coal at ports pushed up offers.