India: Sponge iron offers stay stable in Bellary

Sponge iron prices in Karnataka’s Bellary remain unchanged on 19 Jan’22.

• Around 1,700 t of P-DRI deals were confirmed at INR 31,800-31,900/t against offers at INR 32,000/t exw.
• SteelMint’s assessment for C-DRI stands at INR 32,600/t ($436/t) and around 2,800 t of deals were reported today.
• Mill owners continue to keep prices firm.