India: Sponge iron prices down INR 500-600/t in Bellary

Sponge iron, C-DRI (FeM 80%), prices in Karnataka’s Bellary declined by INR 500/t on 22 Nov’21. Sponge iron, P-DRI, prices dropped by INR 600/t today, as per reports.

• SteelMint’s assessment for C-DRI stands at INR 30,300/t ($408/t). Around 900 t of deals were reported.
• Around 2,700 t of P-DRI deals were confirmed at INR 29,000-29,200/t against offers at INR 29,500/t exw.