India: Sponge iron offers surge in Bellary, Karnataka

Sponge iron PDRI prices in Karnataka’s Bellary rose by INR 700/t, while iron ore-based CDRI prices increased by INR 750/t on 29 Apr’22.

• 3,350 t of PDRI deals were confirmed at INR 36,800-37,000/t exw against offers at INR 37,300/t exw.
• SteelMint’s assessment for CDRI stands at INR 38,050/t exw and 2,900 t of deals were reported.
• Prices rose on strengthening coal and billets prices. Billets prices in Hyderabad rose by INR 1,000/t d-o-d.