India: Sponge iron prices drop by INR 300/t in Bellary, Karnataka

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Sponge iron PDRI (FeM 80%) offers fell by INR 300/t and 2,300 t of deals were concluded between INR 29,600-29,700/t exw on 14 Dec’22.
Iron ore lump-based DRI (CDRI) prices decreased by INR 300/t & around 1,000 t of deals were confirmed at INR 30,500-30,600/t exw.
Sponge iron offers were driven down by slow buying and poor buying enquiries today.

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